Many people think that finding an affordable rental property in Pakistan is a frustrating and difficult endeavour. Looking for the best housing society in Lahore for renting a house, in particular, is often thought of to be akin to solving a complicated math problem. One simply has to contend with a lot of unpredictable variables (or so the belief goes)!
The reality, however, is somewhat different.
The city, in fact, has loads of rental properties for prospective tenants to choose from.
Lahore is a major urban centre. It is also the capital city of Punjab – if you didn’t already know this nugget. And it generally boasts a resilient rental market due to:
- A high rate of rural-to-urban migration
- The presence of developed industry & infrastructure
- A well-established real estate sector
This blog is intended for everyone interested in locating the best housing society in Lahore for renting a house. But on the side, it will also familiarise you with the ground workings of the city’s property market. So that when you pursue a deal for renting a house in Lahore, you know exactly what to expect.
The ‘disconnect’ between Property Prices and Rental Rates
For starters, you (as a reader) need not concern yourself much with the prevailing scenario of the real estate market. This is because the shifts in the real estate sector do not affect the demand & supply dynamics of the rental market to a large extent.
Lahore is a city which has always continued to experience a massive influx of people. And this situation is not expected to change anytime soon.
These ‘incoming’ people often find it difficult to locate affordable rental properties in the metropolis. City areas where rental yield is high are usually in high demand from an investor’s perspective, and it is often these locations that get the most publicity.
Moreover, these zones rarely witness a decline in property prices.
The Top Three Places to Look for Rental Properties in Lahore
Here are the top three localities for rental purposes according to Zameen.com’s online search indicators (as of February 2019):
- DHA Defence
- Johar Town
- Gulberg
Why DHA, Johar Town & Gulberg – you ask?
The top reason for choosing these locations for renting a house in Lahore? One word: affordability.
All three localities are frequently ranked – by property gurus and newbies alike – as being among the best affordable housing societies in Lahore. They offer living facilities that, for the most part, are on par with international standards.
With DHA, in particular, comes the element of privacy, as well as the promise of a luxurious lifestyle. The project is generally considered as one of the best rental, home ownership and property investment avenues in the country.
Johar Town, being not too far off on these counts, is a posh locality in the city. It has well-maintained sewerage, electricity, cable, and gas supply facilities. And many educational institutions, hospitals, and commercial centres to boot!
Gulberg, by all means, is no stranger to the people of Lahore. It is the city’s de facto commercial hub. A major factor that make this locality a superb choice for renting purposes is its prime location. From corporate towers and banks to international food chains, Gulberg has it all.
The Best Place to Rent a House in Johar Town?
Johar Town has two phases; each comprised of several blocks (ranging from A to R). Long story short, but renting a house in Lahore is made both affordable and easy if your choice is this well-planned destination.
As a potential tenant, you should know that affordable rental properties are available in blocks C-1 & C-2 (Phase I), as well as H-1 & H-2 (Phase II). The monthly rent for a two-bedroom portion in these blocks, at present, ranges from PKR 15,000 to PKR 18,000.
Similarly, the monthly rent for two-bedroom portions in blocks Q, R, and R I (Phase II) ranges from PKR 15,000 to PKR 20,000.
The houses which offer all these rental portions measure between 3 and 5-marlas.
In Gulberg?
Based on many people’s ‘lived’ experience, Gulberg is a premier destination for renting an apartment in Lahore. This locality is situated only a few (car) minutes away from the city’s Main Market complex.
In Gulberg, a 2-bedroom apartment is currently available at a going monthly rent ranging from PKR 15,000 to PKR 20,000. The other facilities on offer include easy access to public transport facilities, commercial centres, banks, and many top-ranking educational institutes.
In DHA?
Many view DHA as the best housing society for renting an apartment in Lahore.
Here, single-bed apartments, as well as single-bed portions, are available for rent in phases I & II. These offers are particularly suited to students and bachelors who can afford monthly rents ranging from PKR 15,000 to PKR 20,000.
Using Zameen.com’s search utilities, you can probably locate many other rental options in the city that suit your bill. But as per the reviews of most tenants, the housing society’s detailed above currently rake in the greatest shares of the proverbial Lahori rental cake!
