PAKISTAN’S REAL ESTATE SECTOR IS MORE THAN READY FOR 2016
Pakistan’s property market is expected to depict bullish trends in the year 2016, according to new data released by Pakistan’s best real estate website, Lamudi.pk.
Recent property value reports show that Pakistan’s major development companies like DHA and Bahria Town are doing extremely well across the country. Property values are rising at staggering rates, from 13 percent year-on-year to a whopping 66 percent in some areas.
Dozens of Karachi neighborhoods received a giant boost in property values as a result of the city’s improved security situation in 2015. The improvement is expected to create a tidal wave of interest in property markets around the nation, by attracting foreign investors. Neighborhoods in Lahore and Islamabad are already experiencing the benefit of increased stability in the nation’s largest city.
Although these rising prices in the nation’s largest cities are a boon to property owners, they are a significant barrier to newcomers. As a result, new entrants to the market are attracted to emerging cities like Faisalabad, Gujranwala, Multan and of course the superstar, Gwadar.
The port city of Gwadar is arguably the most important investment location in Pakistan going into 2016. Thanks to the China Pakistan Economic Corridor (CPEC), the Turkmenistan-Afghanistan-Pakistan-India (TAPI) and other international projects which include Russian interest, Gwadar real estate values have almost doubled.
Property prices are still relatively low compared to the nation’s major cities, which helps the port city keep its status as an investment hotspot. Saad Arshed, Country Director of Lamudi Pakistan weighed in on the subject.
“2016 will be full of surprises for many people interested in Pakistan real estate. It doesn’t come as a surprise to us because we have been monitoring the progress of investment hotspots for years. This year, we will be emphasizing that position,” Arshad said.
Investors are strongly advised to invest in investment hotspots such as Gwadar and emerging cities, as these are likely to reap huge profits in the near future, Arshad said.