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 October, the average price per sq.feet was Rs. 4,055. In the following month the price per sq.feet increased to Rs. 4,378. The price for the following two months in (December, January) had a considerable increment of 129 %. The price per sq.feet has had a considerable increase of 1079 % 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. 4,822 to Rs. 52,019 during February, and March.
Based upon to the price in Rawalpindi (cities), these have remained the same in the last 6 months. The price in October is Rs. 93.4 lakhs, rising in November till Rs. 1.06 crores. During the following two months (December, January) the average price fell 90 % with regard to the previous two months. During the last two months, the average price has pretty much remained the same with regard to the previous average values going from an average value of Rs. 94.81 lakhs and Rs. 94.89 lakhs between February and March.
The graph displaying the average price for bedrooms illustrates that those properties with 2 bedrooms are the cheapest ones. At a price of Rs. 84.96 lakhs they are 26 % more affordable than the average price for Rawalpindi. The properties with the highest average price have 4 bedrooms, Their price is 52 % more costly than the average. After that we have properties with 3 bedrooms priced at Rs. 76.12 lakhs.
With regard to the average price per sq.feet , those properties with 3 bedrooms are the most costly ones at a cost of Rs. 5,890 / sq.feet, with an average Rs. 3,762 / sq.feet price in Rawalpindi. The properties with the highest average prices have 4 bedrooms. They are 100 % more expensive than the average followed by properties with 1 bedroom with a price at Rs. 7,499 / sq.feet.
The graph displaying the average prices displays the property type "Upper Portion" as the most affordable one. At an cost of Rs. 84.96 lakhs it is 59 % cheaper than the average price in Rawalpindi. "Commercial" is seen as the second most affordable property type. The dearest property type is "Building" followed by "House". At a price of Rs. 2.03 crores it is 216 % more expensive than the average price.
According to the average cost per sq.feet, the cheapest property type is "Residential Plot" at an average cost of Rs. 2,683 / sq.feet followed by "House" priced at Rs. 7,609 / sq.feet. "Upper Portion" 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. 46,662 / sq.feet.