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 November, the average price per sq.foot was ₹ 22.43. In the following month the price per sq.foot rose to ₹ 23.64. The price for the following two months in (January, February) had a considerable rise of 131 %. The price per sq.foot has risen 106 % 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 ₹ 26.6 to ₹ 28.31 during March, and April.
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 November, is ₹ 26,798. During December the price went through a considerable rise reaching ₹ 31,678. During the following two months (January, February) the average price had a considerable rise of 199 % 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 106 % 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 ₹ 30,351 they are 56 % more affordable than the average price for Bangalore . The properties with the highest average price have 4 BHK, Their price is 133 % more expensive than the average. After that we have properties with 3 BHK priced at ₹ 35,673.
With regard to the average price per sq.foot, those properties with 2 BHK are the most affordable ones at a cost of ₹ 18.7 / sq.foot, with an average ₹ 24.47 / sq.foot price in Bangalore. The properties with the most affordable average prices have 1 BHK. They are 3 % more affordable than the average followed by properties with 4 BHK with a price at ₹ 22.33 / sq.foot.
The graph displaying the average rent prices displays the property type "Land" as the most affordable one. At an cost of ₹ 30,351 it is 50 % 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 ₹ 1.42 lakhs it is 2854 % 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 ₹ 18.35 / sq.foot followed by "Flat" priced at ₹ 21.35 / sq.foot. "Office" is the most expensive type of property with a ₹ 1,841.54 / sq.foot value followed by "Commercial" with an average price of ₹ 332.88 / sq.foot.