Islamabad: House rents in both Rawalpindi and Islamabad were seen to increase by 35% during the last two years, a news source reported on October 7. According to the details revealed, inflation and shortage of rental accommodations had contributed to the surge in house rents in the twin cities.
Moreover, the house rents of properties located within the 40-kilometre radius of the twin cities were recorded to be three times higher than other parts of the country – further indicating variances between rent levels of other major cities.
According to the Pakistan Real Estate, Landlord and Tenant Law, the tenants and landlords are empowered to jointly decide the rent. The same law dictates that the rent increases are imposed every year of tenancy – to be revised by a 10% increase or 25% increase for every three years of tenancy.
If you are seeking a rental accommodation in either Islamabad or Rawalpindi, call us now on: +92-51-111-333-333 (Pakistan), +971-4-4378010 (UAE).
Hazafa reveres the art of writing and has been turned into a property enthusiast by profession. Her daily survival kit includes; tea, coffee, keyboard and paperbacks.
