The prices in real estate in Murree, in the Punjab region have had a strong fall in the last couple of months. The real estate prices for second hand homes have gone through a strong fall in this city.
The price per sq.feet in Murree has had a strong decrease during the last 6 months. In April, the average price per sq.feet was Rs. 1.04 lakhs. In the following month the price per sq.feet decreased considerably to Rs. 62,808. The price for the following two months in (June, July) had a considerable decrease of 37 with regard to the prior two months. The price per sq.feet has had a considerable increase of 233 % in the last two months compared to the average price for the previous four months. This was obtained by comparing the first four months of the period going from a price per sq.feet of Rs. 57,362 to Rs. 1.34 lakhs during August, and September.
Based upon to the price in Murree (cities), this has gone up considerably in the last 6 months. The average price during our first sample month during April, is Rs. 66.5 lakhs. During May the price went through a considerable rise reaching Rs. 1 crores. In the following two months the average price has remained the same with regard to the previous two months from Rs. 83.28 lakhs to Rs. 84.3 lakhs. During the last two months the average price has had a strong fall compared to the previous four going from Rs. 83.79 lakhs to Rs. 67.14 lakhs, which means a 80 % fall.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of Rs. 70.73 lakhs they are 6 % more affordable than the average price for Murree. The properties with the highest average price have 2 bedrooms, Their price is 102 % more costly than the average. After that we have properties with 1 bedroom priced at Rs. 66.37 lakhs.
With regard to the average price per sq.feet , those properties with 2 bedrooms are the cheapest ones at a cost of Rs. 6,628 / sq.feet, with an average Rs. 2.51 lakhs / sq.feet price in Murree. The properties with the lowest average prices have 1 bedroom. They are 96 % cheaper than the average followed by properties with 2 bedrooms with a price at Rs. 6,628 / sq.feet.
With regard to the average price based upon the property in Murree we can see that most expensive property type is "Residential Plot" at a price of Rs. 1.43 crores, they are 102 % more costly than the average price of (!PRECIO2!). "Residential Plot" has the highest price. This price is 102 % more expensive than the average price aforementioned.
According to the average area cost by sq.feet the cheapest property type is "Residential Plot with an average price of Rs. 6,628 / sq.feet. "Residential Plot" with an average cost of Rs. 6,628 / sq.feet has the lowest price and would be directed at less affluent cities.