If you are planning to invest in properties available for sale in Peshawar real estate market, this is the right place. Zameen.com makes sure that you make a thoughtful decision whether you are an investor or someone who is looking for a reasonable residence or property in Peshawar.
Peshawar stands sixth among the list of most populous cities of Pakistan according to the latest census data. The population of this area increased from 982,816 to 1,970,042 making a significant escalation of 100.45% within 19-years. This population growth is keeping Peshawar highlighted in the overall property market in Pakistan which explains that it stays a top-choice for residence and investment in KPK. Hence, many people from nearby regions migrate to this city for attaining a better lifestyle and reasonable accommodation.
Keep reading for a comprehensive analysis for buying trends in the real estate market of Peshawar.
Most Popular Areas with Plots for Sale In Peshawar
In the year 2007, DHA Peshawar (DHAP) was initiated as an idea but after a rigorous process of negotiations, documentation and finalisation of a number of sites and procurement of land, it was formed under the act of DHAP in 2009. The prime location of DHA Peshawar near Warsak Dam Road and Torkham Road, makes it stand top amongst the list of most searched areas in Peshawar for buying plots. This housing society features plots in the area size of 5 marla, 10 marla and 1 Kanal plots in different price ranges. For the purpose of the synopsis, buying 5 marla plot in DHA Peshawar requires a minimum investment of PKR 27 lakh, which hasn’t changed in the past six months. On the other hand, 10 marla plots in DHA are available for the average price PKR 44 Lakh with a minimal hike of 2.43% from the first half of 2019.
In addition, 1 Kanal land in DHA Defence had a substantial upturn in its buying price of about 45.71% in comparison to the six-month data of Peshawar real estate market analysis. It is quite justified due to the proximity of this area near the crossing point between Pakistan and Afghanistan whereas the main commercial market of Peshawar, Karkhanay is also located close to this area. Locals tend to invest in the available plots in DHA Peshawar due to a number of other reasons as well, considering the fact that it is one of the poshest localities after Hayatabad and it is going to be a home for many basic and recreational amenities. The progress of such developmental and constructional work can be tracked down through the official website of Defence Housing Authority Peshawar. A major part of this growth in the buying price is also caused by its prime location near Regi Model Town, the next big thing in real estate market of Peshawar.
According to a news report published in January 2019, Peshawar Development Authority has granted the developmental work in some zones of Regi Model Town, after a great delay of about 27-years which explains a major turnover of 17.78% in the devised average price of 1 Kanal land i.e. PKR 96.38 Lakh currently. The average prices of 5 Marla piece of land and 10 Marla plots remained constant quoting PKR 35.20 Lakh and PKR 57.03 Lakh. The news report also stated that the constructional work in Zone 3 and Zone 4 have already begun whereas Zone 1, 2 and 5 are being cleared for the same purpose.
Some other popular areas in Peshawar for investing in plots are Hayatabad, AWT Housing Scheme Badabair, Gulbahar and University Town. On the same note, investors also take a higher interest in buying plots in Wapda Town due to a significant increase of 89.12% in the value of 5 Marla plots. Moreover, the prices of 10 Marla and 1 Kanal plots increased rapidly by 88.31% and 77.84%, respectively. This major escalation is mainly caused due to a great number of plots available for sale as the society got approved at the beginning of 2019. Right after the approval, the developmental work also started to take place in the first half of 2019. Another reason for this major turnover is the abundant supply of basic resources such as gas, electricity and a well-planned drainage system.
Furthermore, DHA Phase 1 is the most popular phase to buy plots in DHA, Peshawar. This phase consists different sectors ranging in order from Sector A to Sector J. The popularity of this particular phase mainly depends upon the reason that it will be completely functioning near the end of 2019 providing a modern lifestyle for the locals of Khyber Pakhtunkhwa. In addition, Peshawar Development Authority claims to make DHA a paradigm for the investment opportunity in Peshawar and it is most likely to become a point of reference for the existing and future residential societies in Peshawar real estate market.
Most Popular Areas with Houses for Sale in Peshawar
Established in the late 1970s, Hayatabad remains the priority for anyone who is looking for houses for sale in Peshawar. Although the scheme was initially developed for residential purposes only, gradually it became home for trade in the real estate market of Peshawar. Adding to that, Hayatabad also provides a high-end quality residence among all the houses for sale in Peshawar but the costs are pretty high according to the analysis report of earlier six months. For instance, buying 5 Marla house in Hayatabad needs a budget of around PKR 1.78 crores approximately which shows a worth mentioning rise in the buying price of about 33.73%. The 10 Marla houses in Hayatabad have an estimated average price of PKR 2.68 crores. Comparatively, houses of 1 Kanal had a change in the market value of about 20.74 percentage. This rise in percentage resulted in the overall change of average market price to PKR 4.60 crores.
On the other hand, an economical option for buying houses in Peshawar can be Warsak Road which has an average price of PKR 85 Lakh for 5 Marla houses and around PKR 1.6 crores for 10 Marla houses after a marginal increase of 7.77% and 8.66%, respectively. The prices for 1 Kanal houses on Warsak Road can be more or less around PKR 3.78 crores which shows a substantial increase of 33.18%. A sudden deposition of illegal properties in this area has made it safe and secure which implies that it is becoming an attraction for many potential investors.
Some other considerable areas could include Gulbahar with 30.84% hike in houses of 5 Marla, Dalazak Road with a significant increase of 20.90% in 10 Marla property whereas University Town and Nasir Bagh Road have also gained popularity. On the other hand, rates for 10 Marla houses on Ring Road have dropped by 15.13%.
Most Popular Area With Houses For sale in Hayatabad Peshawar
Hayatabad Phase 6 has gained popularity among the rest of the phases in terms of abundant basic amenities and luxuries. According to recent buying property trends for Hayatabad, majority of the online enquiries are made for properties available for sale in Phase 6. The main reason behind this popularity could be the commercial market and transportation opportunities in Phase 6 meanwhile the Food Street of Hayatabad, a new venture by PDA has also started to become the main attraction for the population of Peshawar. Same is the case with Phase 1 of Hayatabad, it is gaining popularity among the real estate market in Peshawar. A huge contribution in this regard is made by ample recreational sites and parks here.
Additionally, Phase 2, Phase 3 and Phase 7 of Hayatabad are also three famous areas in terms of buying houses in Peshawar.
CONCLUSION
To conclude, we can say that presently Peshawar property market is providing some of the best deals for the prospective buyers and investors. According to our analysis report of the first half of 2019, recent real estate projects like DHA Peshawar are not only creating trade prospects, but they are also playing a significant role in bridging the previous loop-holes between population and developmental ratio.
Furthermore, taking a look into the national budget of 2019-20 will also provide you with an insight into the revised taxation rates and capital returns on properties with the mandatory involvement of banks between property trade.
Disclaimer: Sales trends for Peshawar property market are based on prices advertised by real estate agencies on behalf of their clients on Zameen.com, and do not represent actual real estate transactions conducted in Peshawar. These prices are subject to change without notice.
