Lahore Pakistan Real Estate
As cities become increasingly congested and land prices continue to soar, housing is becoming increasingly popular in Pakistan, according to an article published by Pakistan Real Estate, the marketing and media magazine. Nationwide house prices have risen by 5.05% in nominal terms over the past five years, compared with 4.5% a decade ago.
According to World Bank calculations, the country's real estate wealth is about $1.5 billion, or about 10% of gross domestic product (GDP). If this figure is extended to Pakistan, the approximate size of the real estate sector will be between $300 and $400 billion. If we apply this estimate to Pakistan, we need to look at the number of houses in Karachi, Lahore, Islamabad, Peshawar, Quetta, and other cities.
Although Lahore residents are not particularly fascinated by the idea of moving into their homes, it seems that those who move to Lahore from Karachi, Faisalabad and other cities are more likely to buy apartments for residential use. I think that the increase in land prices in Lahore in the near future would lead to a trend from homes to apartments in Lahore. The significant growth of the tourism industry will definitely force foreigners to buy properties in its historic, central, tropical location.
Sameer Malik: Can you tell us which areas in Lahore have more potential in terms of buying and selling residential property? How many people, large or small, have bought land for investment purposes only, and how many do you think have bought it for construction purposes? Of the total land acquired in the city, only 30% was purchased as a pure investment. However, prices now seem to have fallen and we are seeing a significant boom in the property sector.
According to SBP, there is a strong correlation between the number of buyers and the price of properties in the country. Of the 99 countries, 73% are in India, 47% in China, 34% in the United States and 23% each in India and Pakistan. India is among the top 10 countries in the world, at 34th. Prices are rising in Pakistan, a trend that may hold in Karachi, but not in Lahore and other cities.
Bahria Town in Karachi (BTK) has performed remarkably well, and DHA City Karachi and DCK have also shown significant increases in property values. Both towns are developing well, because the DDAH is doing development work in several parts of Islamabad.
Demand for apartments has increased by almost 30% in recent years, fuelled by newly built luxury apartments with high residential values. In Islamabad, housing projects have been increasingly observed, particularly in the Gulshan-e-Iqbal, Khyber Pakhtunkhwa (KPK) and Bani Gala areas. Demand for housing is rising in many parts of the city, fueled by the construction of new - higher-rise - residential and luxury apartments in several areas, such as the University of Islamabad (UIP) area. Demand for housing is rising, fueled by new construction in certain areas such as KPT, KP and other areas around Islamabad.
CPEC is a mammoth project that will transform Pakistan's economy, and as a result, the housing market will boom in the coming years. The construction industry, which accounts for 2% of Pakistan's GDP, is fueled by the housing boom.
Supervision of a real estate regulator will create an incentive for trustees, especially Pakistanis abroad, to invest their hard-earned money in the sector without fear of fraud. Visit our consulting firm's website for more information on Pakistan's real estate sector.
Similarly, investment in DHA in Lahore is bottom-up and a lucrative opportunity for those who want to invest in real estate. We see this trend as a result of hiring architects for construction in Pakistan. What do you think are the housing companies that are more popular outside Lahore for buying and selling? We think the most popular housing association in Islamabad and the second largest in Karachi are both in the DDA cantonment and in Cantt.
Ahmed Shaikhani of the Sha Sheikhani Group says: "The returns are very good and therefore it is the right time to invest in Pakistan, the returns have been very good.
Mirza is proud of the passionate and intensive work that is being done for the real estate industry in Pakistan through our online real estate portal. Nawaiwaqt has written extensively about the subject of real estate in the country and its various aspects. You can also consult his website for more information and to discuss real estate issues within Pakistan.
After fifteen years in London, United Kingdom, he moved with his wife and two children to Lahore, Pakistan, with the aim of providing people with the information they need to make better real estate decisions in the region. Murtaza believes in revolutionizing and redefining real estate by setting unprecedented and improved standards in Pakistan.
In addition, the Federal Government has authorised the competent authorities to establish a national database of real estate companies in Pakistan, which will provide citizens with easy access to information on real estate. To purchase a property from a real estate agent in Lahore, you must carry a copy of the Pakistan Real Estate Act, 2001 (PRA) and find and sell your property through it. If your builder is a company that is regulated by the Securities and Exchange Commission of Pakistan (SECP), check whether your company is allowed to do business with the sale or purchase of real estate.