The prices in real estate in Rawalpindi, in the Punjab region have had a strong rise in the last couple of months. The real estate prices for second hand homes have gone through a strong increase in this city.
The price per sq.feet in Rawalpindi has increased strongly during the last 6 months. In May, the average price per sq.feet was Rs. 25,725. In the following month the price per sq.feet increased considerably to Rs. 43,150. The price for the following two months in (July, August) decreased 87 % with regard to the prior two months. The price per sq.feet has had a considerable increase of 166 % 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. 32,268.75 to Rs. 53,640.5 during September, and October.
Based upon to the price in Rawalpindi (cities), this has gone downing the last 6 months. In our first sample month during May, the average price is Rs. 78.18 lakhs. In June This price remains at Rs. 75.89 lakhs. During the following two months (July, August) the average price had a considerable reduction of 79 % with regard to the previous two months. Based on an analysis of the first four prices and the last two months the average price has gone up 112 % during the last two months.
The graph displaying the average price for bedrooms illustrates that those properties with 2 bedrooms are the cheapest ones. At a price of Rs. 82.8 lakhs they are 54 % more affordable than the average price for Rawalpindi. The properties with the highest average price have 4 bedrooms, Their price is 33 % more costly than the average. After that we have properties with 3 bedrooms priced at Rs. 70.58 lakhs.
With regard to the average price per sq.feet , those properties with 2 bedrooms are the cheapest ones at a cost of Rs. 35,602 / sq.feet, with an average Rs. 52,792 / sq.feet price in Rawalpindi. The properties with the highest average prices have 4 bedrooms. They are 27 % more expensive than the average followed by properties with 1 bedroom with a price at Rs. 63,624 / sq.feet.
The graph displaying the average prices displays the property type "Residential Plot" as the most affordable one. At an cost of Rs. 82.8 lakhs it is 85 % cheaper than the average price in Rawalpindi. "Land" is seen as the second most affordable property type. The dearest property type is "House" followed by "Office". At a price of Rs. 72.46 lakhs it is 30 % 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. 2,946 / sq.feet followed by "Commercial" priced at Rs. 41,214 / sq.feet. "Land" is the most costly type of property with a Rs. 9.16 lakhs / sq.feet cost followed by "Residential Plot" with an average price of Rs. 2.22 lakhs / sq.feet.