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‘Luxury real estate’ has become a commonly recurring term in glossary magazines, property listings, and even real estate reality shows. However, have you ever wondered what counts as luxury real estate in Pakistan? Is it a property priced upward of 10 crores? A swoon-worthy mansion with exquisite interiors? A massive penthouse with an indoor pool? A home with ornate architectural details and a lush green lawn?
Interestingly, many property experts and industry insiders believe it to be a subjective term. Though if one aspect differentiates a regular home from a luxury one, is its sales price. While there is no one number that you may consider as a baseline, such properties are generally among the top 10 percent of homes available for sale in any market.
More often than not, luxury real estate refers to high-end houses and apartments that are priced substantially higher than other units of similar area size. Still, a steep price tag is not the only thing that puts a property in this category. Such homes also boast exceptional amenities and command a prime location to ensure a premium lifestyle.
Features of Luxury Real Estate in Pakistan
Here are some of the most popular features of luxury real estate in Pakistan.
Excellent Location
Most homes are deemed ‘luxury’ because of their highly coveted location. Properties in upscale suburban gated communities tend to be more expensive than similar-sized real estate in emerging hotspots. In addition, houses and apartments situated in the vicinity of airports, beaches, commercial centres, and important landmarks have a higher selling price because their location highlights distinguish them from other properties in the city.
For example, the property prices in projects such as DHA and Bahria Town can be a little higher than in other areas primarily because of the environment, infrastructure, and quality of life. Similarly, waterfront homes can fetch a significantly higher price than a similar home located in a different neighbourhood.
On a side note, don’t forget to check out our guide on choosing the best location for investment property in Pakistan.
Smart Use of Space
Another feature that sets luxury property apart from non-premium real estate is the clever usage of available space. In other words, luxury homes can come in all shapes and sizes. However, regardless of whether it has two bedrooms or twelve, luxury real estate is meticulously designed to create the illusion of taller ceilings and larger rooms. The layout also allows natural light to illuminate the space during the daytime while ensuring proper ventilation.
Moreover, hidden storage units and multifunctional spaces also make a home look modern and expensive. Tasteful furnishing combined with contemporary fixtures and an open floor plan can certainly play a vital role in making a home classified as deluxe.
Ultramodern Amenities
From temperature-controlled pools and rooftop recreational areas to home automation systems and fully equipped gyms with spas, the luxury real estate projects in Pakistan offer an exceptional selection of amenities and facilities. The features of these high-end homes defy all expectations by promising an elevated living experience – which is one of the main requirements of luxury real estate.
Put simply, luxury properties encompass top-notch features that are not usually found in regular homes, such as spacious walk-in closets, servant quarters, entertainment rooms, home gyms, and much more.
High-Quality Construction
It is not uncommon to come across houses that are deceptively designed to look like luxury homes but fall short of the mark due to their poor construction or use of substandard materials. These properties may also have impressive square footage and a highly sought-after location, but if the construction is shoddy, it may not be worth the price.
Some of the most common materials used in luxury houses include hardwood, marble, granite, Venetian plaster, crystal, and more.
Increased Focus on Privacy
Your home is supposed to be your sanctuary, a place where you can destress and spend time with your loved ones without worrying about strangers peeking into your home or nosy neighbours staring through windows.
Luxury real estate buyers prefer homes that offer the utmost privacy without compromising on style and aesthetics. Large gardens surrounding the property and smart security systems have also become an integral part of such properties.
Now that we know about the top features of luxury real estate in Pakistan, let’s look at some investment tips that you may find helpful.
Tips for Investing in Luxury Real Estate
If you are keen on investing in luxury real estate in Pakistan, here are a few things you may want to consider before signing below any dotted lines.
Understand the Demand for Luxury Homes
Buying real estate is considered the most profitable investment opportunity in Pakistan. With property prices rising significantly over the past years, the focus of buyers has shifted from plots to apartments, as they are better suited to adjust to inflation and offer higher capital gains in short to medium terms. That being said, the demand for luxury vertical complexes has also seen a sharp increase in recent times.
Whether you are buying a vacation home for your family or want to invest in a second home to generate a passive stream of rental income, purchasing luxury property could be a wise decision, as its popularity and demand are only expected to grow.
Choose a Convenient Payment Plan
Luxury real estate in Pakistan comes with a hefty price tag. However, instead of being deterred by the price tag, consider investing in projects that facilitate buyers by offering flexible payment plans. The booking for most vertical complexes and residential societies begins with a 30 percent down payment with 10 or 20 percent payable at the time of possession and the rest divided into monthly instalments. Some developers also allow buyers to make balloon payments and offer discounts on those who make full payment upfront.
To learn more about luxury projects in your city, please feel free to check out the list of new projects on Zameen.com – the leading real estate company in Pakistan. In addition, you can visit the next Property Sales Event or Open House Event in your city to discuss your investment options with our highly qualified real estate experts.
Identify The Right Market
Those planning on investing in luxury real estate in Pakistan should also study the current market condition before reaching their final decision. Before you buy a property, consider the cost of living in the neighbourhood, the infrastructure and accessibility to primary facilities, the availability of civic amenities, and the general economic outlook. It would help you determine if the money you are going to spend will be truly worth it in the end.
However, it is also pertinent to note that buying property in Pakistan is certainly more reliable than investing in stocks, as the real estate market has proven to be far more stable in the present times. It is also easier to find a potential tenant for such homes, which means you will be able to profit from your property while preserving its ownership.
This brings us to the end of our guide on luxury real estate in Pakistan. If you find this blog interesting, here are a few more that you may want to check out:
- How to Buy a Home Amid High Inflation
- Buyer’s Guide to Choosing Between Two Similar Properties
- Investing in Real Estate Hotspots vs Established Performers
Stay connected to Zameen Blog – the best property blog in Pakistan – to learn more about the best investment opportunities near you. Also, please feel free to share your thoughts and comments with us by dropping a message at blog@zameen.com. Furthermore, visit our Facebook page for the latest updates about the real estate trends in the country.
