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 January, the average price per sq.feet was Rs. 6.59 lakhs. In the following month the price per sq.feet decreased considerably to Rs. 21,687. The price for the following two months in (March, April) had a considerable decrease of 11 with regard to the prior two months. The price per sq.feet has had a considerable deflation of 3 % 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. 1.9 lakhs to Rs. 5,969.5 during May, and June.
Based upon to the price in Rawalpindi (cities), this has gone up considerably in the last 6 months. The average price during our first sample month during January, is Rs. 78.77 lakhs. During February the price went through a considerable rise reaching Rs. 1.57 crores. In the following two months the average price has remained the same with regard to the previous two months from Rs. 1.18 crores to Rs. 1.24 crores. During the last two months the average price has had a strong fall compared to the previous four going from Rs. 1.21 crores to Rs. 90.65 lakhs, which means a 75 % 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. 93.3 lakhs they are 28 % more affordable than the average price for Rawalpindi. The properties with the highest average price have 3 bedrooms, Their price is 33 % more costly than the average. After that we have properties with 2 bedrooms priced at Rs. 98.42 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. 8,321 / sq.feet, with an average Rs. 6,044 / sq.feet price in Rawalpindi. The properties with the highest average prices have 4 bedrooms. They are 12749 % more expensive than the average followed by properties with 1 bedroom with a price at Rs. 9,627 / sq.feet.
The graph displaying the average prices displays the property type "Land" as the most affordable one. At an cost of Rs. 93.3 lakhs it is 62 % 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. 71.88 lakhs it is 32 % 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. 1,995 / sq.feet followed by "Office" priced at Rs. 2,922 / sq.feet. "Land" is the most costly type of property with a Rs. 9.09 lakhs / sq.feet cost followed by "Apartment" with an average price of Rs. 46,850 / sq.feet.