Where does the real estate market of Pakistan currently stand?

The real estate market of Pakistan is exhibiting persistently stable trends. This means that the time for you to invest in real estate is here. Here is a guide for you from three main cities, giving you insights to all that’s new and happening.

Lahore

Lahore’s real estate market has been stable since a year now. The lowered prices have allowed a large number of genuine buyers to remain active and build their ideal homes. According to Ghulam Shabbir Awan from Subhan Estate, he initially expected that a drastic change would be observed after the elections. However, he observed that this hasn’t happened till yet as the government has so far not announced any kind of reforms for the real estate sector and so no projection for this effect can be made for now.

While talking about DHA where Awan trades, he said that genuine buyers prefer DHA the most whenever they want to build a house. According to him Phase VI, VI extension, and Prism IX are the most preferred localities by most buyers, and so activity here remains intact.

On the other hand, Mubashir Iqbal from AAS Properties says that prices in Lake City have increased by 15%-20% during the last year, mainly because genuine buyers remain interested. Iqbal is of the view that as soon as a few more investors come to the project and realise its potential, more would follow.

Mian Liaquat Ali from Pak Land Estate Builders believes that there is significant activity from genuine buyers and so development and construction activities in most projects remain intact. He adds that because of this, the market is exhibiting stable patterns and isn’t slumping because of low involvement from investors.

Karachi

Karachi’s real estate market is vast and provides a number of opportunities for a large number of players. This means that there is something for investors and genuine buyers both. According to Iftikhar Hussain from Al-Tawakul Enterprises, Karachi’s Scheme 33 (from Safoora to Malir) presents the largest number of opportunities for investment and building. These include housing schemes such as Saadi Town, Saadi Garden, Gulshan-e-Meran, and PCSIR.

According to Muhammad Imtiaz Siddiqui from Imtiaz Enterprises, the most trusted name for home buyers is DHA and so activity here has remained stable. Presently, DHA City is the most sought out avenue for all aspiring buyers as it is the newest addition to the long list of attractive projects provided by DHA. DHA Phase VIII is a preferred locality as well, but most people are waiting for DHA City to materialise.

Overall, market activity has remained stable. Construction is ongoing throughout the city, but in housing projects, because investment remains low.

Islamabad

Islamabad’s real estate has a number of really interesting projects, attracting a large number of genuine buyers and investors, up until a year ago, after which activity here has remained rather slow. While builders are working with a large number of architects to establish beautifully designed buildings, most investors shy away from the market. Genuine buyers are eagerly buying in DHA, Gulberg, and B-17.
Gulberg has a number of really beautiful projects which utilise the natural surroundings of Islamabad and accentuate the scope of living here.

The real estate market of Lahore, Karachi and Islamabad is doing well, primarily because genuine buyers remain interested. However, all are waiting now for the government to take concrete steps towards bringing reforms that would increase investment in this sector. Many real estate agents and experts believe that by December, ideally, the government should introduce a number of key reforms if it wants continued activity in this sector.