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 February, the average price per sq.feet was Rs. 1 lakhs. In the following month the price per sq.feet decreased considerably to Rs. 3,762. The price for the following two months in (April, May) had a considerable decrease of 7 with regard to the prior two months. The price per sq.feet has had a considerable deflation of 48 % 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. 27,857.25 to Rs. 13,269 during June, and July.
Based upon to the price in Rawalpindi (cities), this has gone up considerably in the last 6 months. The average price for February is Rs. 1.05 crores. During March the price had a considerable reduction till Rs. 84.96 lakhs. During the following two months (April, May) the average price fell 85 % 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 risen strongly 222 % 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. 2.54 crores they are 77 % more affordable than the average price for Rawalpindi. The properties with the lowest average price have 4 bedrooms, Their price is 49 % cheaper than the average. After that we have properties with 3 bedrooms priced at Rs. 82.5 lakhs.
With regard to the average price per sq.feet , those properties with 3 bedrooms are the cheapest ones at a cost of Rs. 6,555 / sq.feet, with an average Rs. 17,121 / sq.feet price in Rawalpindi. The properties with the lowest average prices have 2 bedrooms. They are 55 % cheaper than the average followed by properties with 4 bedrooms with a price at Rs. 7,518 / sq.feet.
The graph displaying the average prices displays the property type "Land" as the most affordable one. At an cost of Rs. 2.54 crores it is 75 % cheaper than the average price in Rawalpindi. "Apartment" is seen as the second most affordable property type. The dearest property type is "Commercial" followed by "Building". At a price of Rs. 2.67 crores it is 41 % more expensive than the average price.
According to the average cost per sq.feet, the cheapest property type is "Land" at an average cost of Rs. 2,454 / sq.feet followed by "Apartment" priced at Rs. 7,566 / sq.feet. "House" is the most costly type of property with a Rs. 1.5 crores / sq.feet cost followed by "Commercial" with an average price of Rs. 21,069 / sq.feet.