3 Cities of Pakistan Where New Home Construction is Booming
The real estate industry across Pakistan is experiencing boom with new construction and development activity. Local as well as foreign investments are fueling the increasing home construction around the major metropolitans in the country. If there was ever a time to invest in the budding real estate of Pakistan, it is now. But the question is that which city should you invest in? The housing market has stabilized for the most part, but it’s in these three key cities where the biggest opportunities lie.
Islamabad
To be fair, the Capital Development Authority (CDA) sectors fell by 20% in median home prices. However, this represents existing homes and properties. New construction in Islamabad, on the other hand, is a completely different story. Bahria Town and Defence Housing Authority (DHA) remain the biggest residential property developers in major cities across Pakistan, and Islamabad is no exception.
In 2013, the housing market added over 100% gains, which has also contributed to the increasing prices in the capital city. In fact, Islamabad is the most expensive city to live in Pakistan, and has the highest median price for new homes as well. But that has not discouraged investment in the region by any means, with the DHA overseas project and Bahria Town housing schemes looking set for completion in their time frame. Find residential and commercial plots for sale Islamabad Bahria Town at prominent real estate market place.
Lahore
The housing market in Lahore hit rock bottom in 2005 but always should room for exponential growth. This potential is starting to flourish with modern development. Lahore currently has some of the biggest construction projects in Pakistan. The infrastructure renovations are only making it easier for the residents of Lahore to travel to different areas of the city with relative ease. As for new home construction, this is a booming sector in Lahore with the expansion of the housing schemes and residential areas. Gated communities are forming the norm in Lahore, despite the fact that law and order are prevalent in the city for the most part.
The construction activity in Lahore is scalable, with small and medium sized developers focusing on construction for rent. On the other hand, the big investors like DHA and Bahria Town are bringing about a revolution in the local market. Since 2010, property prices in high end societies in Lahore have increased well over 100%. DHA and Gulberg are by far the most attractive propositions in the city. With the Lahore Ring Road project following up on schedule, we can expect further commercial and residential development in the heart of Punjab. Find latest Lahore DHA plots for sale at realproperty.pk
Karachi
Despite the fact that the law and order situation in the financial capital of Pakistan remain uncertain, new home construction is at prime. Bahria Town is developing a housing scheme in the outskirts of Karachi, and Middle Eastern investors like Damac are giving the city of lights its own skyline. The increasing population is contributing to the surge in home construction and median home prices.
Southern Karachi is where most of the high end communities and societies are. This division provides the brightest prospect and has on-going residential development projects. Central Karachi is densely populated and generally sees high rise building construction to accommodate the growing population. North Karachi, despite its untouched land and bright real estate prospects, is an untouched market. Unfortunately, North Karachi is more prone to violence than other divisions in the city. To sum it up, Karachi is booming with new construction. If the law and order situation gets better, Karachi has the potential to spearhead the real industry of Pakistan. Visit Karachi plots for sale at real estate market hub.
