Aoa,
Do you think property prices in G-13/G-14 will cross G-10/G-11 in 5-10 or even 15 years? I own a house in G-11. I have an opportunity to sell it off and buy a slightly bigger plot and construct a new house in G-13. Do you think it's a right move?
Some close friends are suggesting to keep the house in G-11 because they think prices in G-11 will increase further and G-13 will never be able to touch or even come close to G-11. What do you guys say?
Thanks!
Talha, G-13 is not likely to come at par with G-11 in price, and I believe your friends are advising you correctly. In case you can get a house double in size than that of your G-11 house then you should consider it seriously, but no less than double.
Khan ji, please give reasons to support your assessment. Generally, new sectors beat older ones in price race. Why do you think G-11 will stand firm in this competition?
@Talha, Besides property appreciation, isn't it so that a house which meets your family demands is very beneficial?
New construction also has a value in terms of comfortable living benefits to you.
@B.R Malik
Both options have their pros and cons in terms of living benefits. G-11 is more populated and comparitivly closer to my office, hospital, markets, centaurus, jinnah super, blue area etc while in G-13 i can enjoy a slightly bigger house with new construction. Overall IMO, both options are more or less equal.
That's why here i'm asking only in terms of property appreciation!
Isloo Sb, G-11 to me seems to be a better sector in G series for a variety of reasons. It is a newer but well settled and populated sector. Many schools including roots, ICAS, SLS, IMCB/IMCG are located within the sector and other good schools like Frobels, IGS, Beacon, City etc. Are located in nearby sectors. NUST, FAST, and IIU are located close to G-11 (and also to G-13). G-11 is more closer to Jinnah Park, Blue Area. It has a well established Markaz. Of course, G-13/14 are newer than G-11 but those two sectors will take ages to establish like the G-11 of today.
But isn’t it so that percentage increase of G-13 will outsmart G-11 in long term?
Malik Sb, I think G-13 cannot surpass G-11 even in the longer term. The only plus point of G-13 in comparison to G-11 is that it has newly constructed houses. All other supporting factors are in favour of G-11.
If the living conditions are made better,g-13,g-14/4 can simply outsmart g-11 because its the tradition in islamabad that newly developed sectors are expensive than older ones.
Frankly I dont think G-13 can beat G-11 simply because G-11 is such a better location. It is directly connected with main Islamabad and is a posh sector.
On the other hand G-13 is on kashmir Highway and the direct connection is very difficult to construct because of properties of people living on the land for G-12. Lots of politics and pressure mafia. Government is too weak to force the people out of G-12 area even to build the road.
G-11 is proper Zone 1 with excellent view and atmosphere. G-13 is full of dusty roads etc.
But what about in terms of price appreciation. Suppose if G-13 in terms of price is currently say 75% of G-11 so would it cross that threshold and come close to 85-90% with time or will it always stay behind by that margin as is right now.
@pk1 sir can you give a suggestion whether buying a house (solely for investment purpose) would be better in G-13 or G-11 if a small 4 marla in G-13 against 5 marla in G-11 is considered for instance in terms of future price appreciation as rent will almost be the same with not much of a difference.