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 April, the average price per sq.foot was ₹ 24.93. In the following month the price per sq.foot rose considerably to ₹ 61.6. The price for the following two months in (June, July) had a considerable rise of 143 %. The price per sq.foot has had a considerable fall of 50 % 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 ₹ 52.63 to ₹ 26.58 during August, and September.
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 April, is ₹ 35,981. During May the price went through a considerable rise reaching ₹ 2.48 lakhs. During the following two months (June, July) the average price had a considerable rise of 164 % with regard to the previous two months. During the last two months the average price has fallen greatly compared to the previous four going from ₹ 1.87 lakhs to ₹ 29,981, which means a 16 % fall.
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 ₹ 36,816 they are 67 % more affordable than the average price for Bangalore . The properties with the highest average price have 4 BHK, Their price is 235 % more expensive than the average. After that we have properties with 3 BHK priced at ₹ 75,506.
With regard to the average price per sq.foot, those properties with 1 BHK are the most affordable ones at a cost of ₹ 19.68 / sq.foot, with an average ₹ 31.93 / sq.foot price in Bangalore. The properties with the most expensive average prices have 4 BHK. They are 8 % more expensive than the average followed by properties with 3 BHK with a price at ₹ 33.97 / sq.foot.
The graph displaying the average rent prices displays the property type "Land" as the most affordable one. At an cost of ₹ 36,816 it is 59 % more affordable than the average price in Bangalore. "Flat" is seen as the second most affordable property type. The most expensive property type is "Commercial" followed by "House". At a price of ₹ 1.03 lakhs it is 428 % more expensive than the average price.
According to the average cost per sq.foot, the most affordable property is "Office" at an average price of ₹ 13.47 / sq.foot followed by "Land" priced at ₹ 16.44 / sq.foot. "Villa" is the most expensive type of property with a ₹ 62.74 / sq.foot value followed by "Commercial" with an average price of ₹ 50.93 / sq.foot.