The real estate market of Karachi serves over 20 million people. From hundreds of housing societies to thousands of squatter settlements, this city mesmerizes everyone with its vastness and diversity. The value of properties in almost every popular area is going up.
In recent years, the city has witnessed the development of numerous real estate projects in different parts, mostly suburbs, causing its realty sector to expand at an unbelievable scale. These rapidly progressing property developments are offering people many residential and commercial plots, thereby bringing new real estate investment opportunities.
Things to know About Property Investment in Karachi
There may be countless opportunities to invest when it comes to the real estate market of Karachi, however, it’s a big commitment that requires a lot of research and deliberation. So, to make things easier in this concern, we have come up with a list of things, keeping in mind some general and some typical questions that may arise in someone’s mind while investing in property in Karachi
Property Market Survey
Buying a house or land in Karachi may be a thrilling experience for a lot of people. However, it is not as easy as it sounds to become a landlord in Karachi. First of all, you need to do a survey of the property market as to which type of property in Karachi has high demand and increasing value.
Your property survey can conveniently start from internet research that can be easily done by using the platform of Pakistan’s largest online property portal, Zameen.com.
However, to get a detailed overview of the changing rate of the property you are interested in, you can also visit Zameen’s index page. This will also give you an estimate about the value of properties available in different areas of Karachi and where you can feasibly invest.
Determining the Actual Value of Property
The city of Karachi is huge with many areas and neighbourhoods. So, thinking of property investment in Karachi is like catching a small fish in a large ocean. By simply typing in the search term of ‘Property for Sale in Karachi,’ we come across hundreds of results with different price tags.
Now, it depends on us as to how we filter them according to their actual value. Internet results can at least give you a good idea as to what price trends you should expect when looking for a property in a certain area of Karachi.
If you go through numerous property listings on Zameen.com based on flats and houses for sale, you would realize that the prices of properties available in Karachi start from lacs and go in crores. These price variations are mostly because different parts of Karachi have different real estate value.
Beware of bogus investment opportunities
Projects proposed only through internet or SMS, with no certification from a credible agency, should always be eyed with suspicion. So, if you are unable to verify their authenticity or any other details provided by them, then it is better to not to invest even a single penny in such kind of situation. It is one of the most important property investment tips that real estate investors in Karachi should make use of.
Check the surroundings of your chosen property
One of the most overlooked aspects by people looking to buy property in Karachi is inspection. It’s very important to make sure the area you’re investing in is worth it. For example, a lot of well-established neighbourhoods in the city are surrounded by countless nearby facilities. They have schools, colleges, hospitals, public parks and expressways nearby.
Whether you are interested in a commercial or a residential property, having nearby amenities and a secure environment will only add to its real estate value. When searching for a specific property for sale in Karachi, you have to go through all these factors. Under construction housing projects found within the city possess more potential for profit than already developed societies in the suburbs of Karachi.
Check for legalities
This is another critical factor that requires the attention of anyone willing to buy property in Karachi. Land grabbers and mafia had corrupted the property sector in Karachi for decades but, luckily, the noose has tightened around such wrongdoers, thanks to the Supreme Court and law enforcement agencies.
The latest anti-encroachment drive is a fine example in this concern. So, before buying a property in Karachi, it is necessary for you to check whether the property you are buying has proper documentation and is legal. Make sure it is not built or located on state-owned land.
Start with your property hunt once you’ve read all the property investment tips
Yes, this is what you should do if once you’ve gone through all the above-mentioned tips. Buying a plot in Karachi can be a thrilling experience for you if it matches your criteria and budget. As an investor, thoroughly check everything about the property you are interested in before finalizing the deal.
