The rent prices in real estate in Bangalore, in the Karnataka region have risen considerably in the last couple of months. There has been a strong rise in the rent prices this city.
The price per sq.foot in Bangalore has risen strongly during the last 6 months. In September, the average price per sq.foot was ₹ 22.71. In the following month the price per sq.foot rose considerably to ₹ 36.01. The price for the following two months in (November, December) had a considerable rise of 118 %. The price per sq.foot has risen 115 % 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.foot of ₹ 31.99 to ₹ 36.74 during January, and February.
When referring to the price in Bangalore (cities), this has risen considerably in the last 6 months. The average price during our first sample month during September, is ₹ 20,599. During October the price went through a considerable rise reaching ₹ 53,938. During the following two months (November, December) the average price had a considerable rise of 126 % 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 increased 109 % during the last two months.
The graph displaying the average rent price for BHK illustrates that those properties with 1 BHK are the most affordable ones. At a price of ₹ 42,963 they are 40 % more affordable than the average price for Bangalore . The properties with the highest average price have 4 BHK, Their price is 118 % more expensive than the average. After that we have properties with 3 BHK priced at ₹ 52,200.
With regard to the average price per sq.foot, those properties with 4 BHK are the most affordable ones at a cost of ₹ 33.29 / sq.foot, with an average ₹ 36.53 / sq.foot price in Bangalore. The properties with the most expensive average prices have 1 BHK. They are 13 % more expensive than the average followed by properties with 3 BHK with a price at ₹ 35.5 / sq.foot.
The graph displaying the average rent prices displays the property type "Land" as the most affordable one. At an cost of ₹ 42,963 it is 65 % more affordable than the average price in Bangalore. "Flat" is seen as the second most affordable property type. The most expensive property type is "Office" followed by "Villa". At a price of ₹ 2.11 lakhs it is 2542 % more expensive than the average price.
According to the average cost per sq.foot, the most affordable property is "Land" at an average price of ₹ 18.01 / sq.foot followed by "Commercial" priced at ₹ 27.65 / sq.foot. "Office" is the most expensive type of property with a ₹ 1,078.76 / sq.foot value followed by "Villa" with an average price of ₹ 63.7 / sq.foot.