Most Popular Locations for Rentals in Pakistan
The Pakistan real estate that showed a strong start in the beginning of 2016 has rather slowed down in recent months. Home sales have slowed down, which means homes are listed on the market for longer periods of time. However, the political situation in the country is the main factor that is affecting different industries, and real estate is one of them.
Despite all that, the prospects of renting are still bright across Pakistan. While the main tenant population comprises of students, there has been an upsurge in suburban families and young couples moving into urban cities across the country. Here are our picks for top four rental locations in Pakistan!
1) Islamabad
The capital city remains the biggest real estate attraction in Pakistan, despite being on the backend of political rallies. The expansion plan of the city has worked off quite well and new housing schemes like DHA Overseas and Bahria Town are fast becoming occupied. Islamabad is also the hub of higher education and SMEs in Pakistan, which is why it has an increasing young population that is renting out apartments and condos.
2) Lahore
Lahore is still going strong and is fast becoming the number one rental destination for couples, families, and students. The new Metro system has made the whole interconnected and has increased accessibility to the main attractions in the city. With budding new and renowned housing schemes, Lahore now has a very strong rental market for rentals. That being said, the average rental rates for apartments, condos, and houses are high and only increasing with time. So if you want to move into a rental house in DHA Lahore, then your best bet is to get one sooner rather than later.
3) Karachi
Karachi has long been affected by political instability and violence, but things have now become more controlled. The fact that Karachi is one of the most populous cities in the world makes it virtually impossible to not find a rental. However, in a city with such a diverse population, you have to choose your rental locations carefully. For example, if you are looking for a high end rental to move in with your family or significant other, then DHA, Clifton, and Askari Apartments will fit your needs. However, if you are a student and you want to move into a cheap rental, then you can find many around Gulshan-e-Iqbal and North Nazimabad.
4) Hyderabad
Surprise there! Investors have started to realize the potential in the Hyderabad real estate, and that has led to increasing construction and development activity. New apartments and housing schemes are making their way to the friendly neighbors of Karachi and are available for rental. The main rental population in Hyderabad is made up of couples and families. There are not many students that take rental accommodation in the city because higher education is still not adequate in these parts of Sindh. However, the future of Hyderabad looks nothing but bright, and the city will definitely become a key player in the real estate in the following years!
