Nowadays, it looks difficult to buy a house in Pakistan with all the taxes and as per increment of a dollar but there’s no need to get disheartened as Government has consoled the taxes as well. Inflation is rising so do the prices of houses. In 2019, nationwide prices rose to PKR 10,875 per square feet by 5.05%, also got dropped by 3.98%. However, for every house, city, area, and location there are distinct prices per Marla or Kanal, it depends. You need to know the actual prices per square feet before buying or selling houses. Following are the prices of 5 Marla houses in distinct cities of Pakistan:
Prices in Lahore:
- DHA (Defence Housing Authority):
In DHA Lahore, there are 4,020 properties on sale including total houses (3,919), flats (97), Penthouse (3), and farmhouse (1). The current price of 5 Marla house is 14,186 PKR per square feet, increased by 1.84% of last year.
- Bahria Town:
In Bahria Town, a total of 246 properties are on sale including houses (195), flats (48) and upper portions (2). The current price of 5 Marla house is 11,657 PKR per square feet, increased by 5.33% in a year.
- Johar Town:
In Johar Town, total houses between 2-6 Marla on sale are 1,442 including houses (1,231), flats (208) and lower portions (2). The current price is 13,633 PKR per square feet increased by 6.56% since last year.
- Wapda Town:
In Wapda Town, there are 626 properties between 4-6 Marla including houses. The current price of 1-5 Marla is 12,079 per square feet changed by -1.97% in a year.
Prices in Karachi:
It includes 5,507 properties including houses (2,986), flats (2,498), penthouse (18), lower portions (4), upper portion (1). The current price of Marla house is 38,829 PKR per square feet altered by 6.94 percent in a year.
- Bahria Town:
In Bahria Town Karachi, almost 6,175 houses for sale including houses (4.085), flats (14), penthouses (6), upper portions (1). The current price of 5 Marla house is 9,690 PKR per square feet increased by 2.49 percent in a year.
In Gulshan-e-Iqbal, there are almost 3,275 houses for sale including houses (996), flats (1,973), upper portions (209), lower portions (69), Penthouse (28). The current price of 5 Marla house is 16,534 PKR per square feet changed by -5.15% in a year.
Prices in Islamabad:
In DHA, there are 1,831 properties for sale including houses (1,202), flats (621), Penthouse (7), farmhouse (1). The current price of 5 Marla house is 10,596 PKR square per feet changed by 6.09% in a year.
- Bahria Town:
In Bahria Town, total aggregate is 965 properties on sale including houses (729), flats (226), farmhouse (6), penthouse (4). The current price of 5 Marla house is 12,920 PKR per square feet altered by 3.26%.
- Pakistan Public Works Department (PWD) housing scheme:
In PWD, total houses on sale are 157 including (137) houses and (20) flats. The current price of 5 Marla house is 7,559 PKR per square feet altered by 8.33% in a year.
Future of Real State of Pakistan
Real Estate Investment in Pakistan has always been a remunerative business to secure a healthy amount of your well-earned money. The good old buying and selling phenomenon makes it easier to understand the simple rule of gaining profit in this investment sector and with the right type of land guide by your side, the chances of harvesting huge sums of turnout are like a walk in the park.
Let’s start with the types of real estate you can invest your money in, either to get benefit from the deal or a home-sweet-home for your lovely family.
Types of Real Estate Pakistan:
Reducing the vast field of real estate investment sectors in Pakistan to six major categories, we have;
- Residential grounds
- Agricultural grounds
- Industrial grounds
- Commercial grounds
- Government grounds
- Stark grounds
Overview of Pakistan’s Real Estate Market:
To know which is the best way to get the most benefits out of your investments? It is better to know about the history of real estate business in Pakistan and here, we come handy, to have a short overview ready for you to give a glance at and get to know the reasonable investment plans.
Pakistan’s Real Estate Forecast 2016:
The year of 2016 had been a golden year in the history of Pakistan’s Real Estate Market. It was a profitable year for all the sellers as well as the realtors, giving everyone’s business a friendly nudge in the upward direction. Many new local real estate agencies came into view in Pakistan in 2016 for both short as well as long term business.
Pakistan’s Real Estate Forecast 2017:
In 2017, due to the currency depreciation and skepticism over government policy, many international investors decided to stake in Pakistan’s real estate as the country has been successful in introducing pro-business reforms and boosting the current account deficit. But after the Panama Case incident, the property market crashed badly.
Pakistan’s Real Estate Forecast 2018:
In 2018, after the discoveries and leads to the case culprits made public, the estate market of Pakistan had to face a great fall. Property prices went down 25% from the peak in the beginning half of the year 2017. Properties worth millions had to be sold for thousands. Some buyers were waiting for the right time to invest when the property prices would strike their bottom lines. A price decline of about 40-50% was witnessed yet we maintained our legacy of giving the best investing advice to people.
Pakistan’s Real Estate Forecast 2019:
In the year 2019, the investment market was still struggling from the ignominious debacle. The sellers were trying to find the buyers with white money, some were holding on to the properties and waiting for the prices to take uphold. Realtors were the ones suffering the most. Half of them were forced to close their agencies by the upset situation of real estate. But we managed to provide our investors with sites that led them to secure a healthy amount of profit.
What to Expect from Pakistan’s Real Estate Market in 2020?
Moving on from 2019 to 2020, the year promises a good period for investments despite what others might say about the drawbacks. There is always more than one way to look at a glass that’s half-filled or as we would like to say, half full.
Market Status quo:
The real estate market is suffering a low curve due to all the attention towards the pandemic situation of the world. People, from all over the world are coming back to their homeland and now is the best time to invest money in real estate to secure all the valuable assets under your hold to get the most profit possible.
As for the sellers and realtors, this is a good time to cash out your priced property and get a good reasonable amount for your benefits.