The prices in real estate in Rawalpindi, 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 Rawalpindi has had a strong decrease during the last 6 months. In March, the average price per sq.feet was Rs. 94,147. In the following month the price per sq.feet decreased considerably to Rs. 69,755. The price for the following two months in (May, June) had a considerable decrease of 42 with regard to the prior two months. The price per sq.feet has had a considerable deflation of 52 % 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. 58,194.25 to Rs. 30,100 during July, and August.
Based upon to the price in Rawalpindi (cities), these have remained the same in the last 6 months. The average price during our first sample month during March, is Rs. 72.59 lakhs. During April the price went through a considerable rise reaching Rs. 94.56 lakhs. During the following two months (May, June) the average price fell 92 % with regard to the previous two months. During the last two months the average price has had a strong fall compared to the previous four going from Rs. 80.31 lakhs to Rs. 60.72 lakhs, which means a 76 % fall.
The graph displaying the average price for bedrooms illustrates that those properties with 2 bedrooms are the cheapest ones. At a price of Rs. 57.99 lakhs they are 32 % more affordable than the average price for Rawalpindi. The properties with the highest average price have 4 bedrooms, Their price is 97 % more costly than the average. After that we have properties with 3 bedrooms priced at Rs. 65.85 lakhs.
With regard to the average price per sq.feet , those properties with 2 bedrooms are the cheapest ones at a cost of Rs. 35,406 / sq.feet, with an average Rs. 41,540 / sq.feet price in Rawalpindi. The properties with the highest average prices have 4 bedrooms. They are 62 % more expensive than the average followed by properties with 1 bedroom with a price at Rs. 55,369 / sq.feet.
The graph displaying the average prices displays the property type "Land" as the most affordable one. At an cost of Rs. 57.99 lakhs it is 39 % cheaper than the average price in Rawalpindi. "Residential Plot" is seen as the second most affordable property type. The dearest property type is "House" followed by "Office". At a price of Rs. 72.61 lakhs it is 56 % more expensive than the average price.
According to the average cost per sq.feet, the cheapest property type is "Office" at an average cost of Rs. 2,952 / sq.feet followed by "Residential Plot" priced at Rs. 37,274 / sq.feet. "Land" is the most costly type of property with a Rs. 9.05 lakhs / sq.feet cost followed by "Commercial" with an average price of Rs. 66,867 / sq.feet.