Islamabad real estate sector interests many. Since lot of people have stake in this sector, the industry specialists also keep a closer eye on its performance. Lately, property value in Islamabad has increased many folds giving a thrust to the city’s infrastructural developments. During the last one decade, Islamabad has undergone a lot of change but what didn’t change about it is the peace and serenity that lingers in the air here. Among countless Pakistanis, Islamabad is certainly the most preferred cities to live in.
Zameen.com, the only national property portal of Pakistan, studied the pre and post Ramadan status of Islamabad real estate sector and offers its expert take on this. According to the portal’s finding, the value of smaller residential plots i.e. 5 & 10 Marla showed noticeable effects of low activity that is typical to property sector’s performance during Ramadan. With a drop of 8% and 11%, 5 and 10 Marla residential plots touched the year’s lowest value in July. However, the drop in rates of 1 and 2 Kanal residential plots was somewhat negligible i.e. 2.3% and 3% respectively.
The dropped price of residential property in Islamabad failed to affect people’s interest it. As per Zameen.com’s stats, the search volume for residential plots in Islamabad increased 6.8% during Ramadan, which clearly shows that the buyers and investors desire to invest in Islamabad property sector elevated with reduced sale purchase activity in the market. As soon as the post Ramadan activity resumed in the market, the search volume for residential plots in Islamabad shrank slightly and the property rates went up.
The good part of this analysis is that the real estate sector of Islamabad has picked pace once again as prices have already crossed their pre Ramadan values. When compared with their dropped rates during Ramadan, rates of 5 and 10 Marla residential plots have increased 8% and 5% respectively while the spike for 1 and 2 Kanal plots remained 2.8 and 5% respectively.
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