Property Trends in Islamabad
Any recurring pattern or shift in the general direction of the real estate industry that induces a statistically significant change over time is referred to as a real estate trend or property trend. The economy, a change in mortgage rates, consumer speculations, and other fundamental and non-fundamental factors may all contribute to this phenomenon.
Change is the only constant element, and so it is for the property trend as well. We shall compare the price and search trends for the twin cities of Islamabad and Rawalpindi and also of Lahore.
Property Trends in Islamabad
The price and search trends during the first half of 2019 and the second half of 2018 for Islamabad has left the Defence Housing Authority, DHA at the top of the list. The performance of this lodging society shows no change as it is one of the three societies that the residents of Pakistan have the highest regards for.
The value of 5 Marla plots in DHA Islamabad has dropped by 7.44 percent, with an average price of around PKR 19.5 lakh because of a decline in demand in the first half of 2019. On the other hand, the price of a 10 Marla residential plot in DHA Islamabad has risen by 2.87% and costs around PKR 86 lakh. However, the average price of a 1 Kanal piece of residential land in DHA Islamabad, which is now available for about PKR 1.4 crore, has dropped by 6.17 percent, owing to the area’s slow growth.
On the whole, the property market of Islamabad has performed well. Other great performing areas for buying property in Islamabad includes Bahria Town, Gulberg, B-17, Top City 1, G-14, E-11, Naval Anchorage, FECHS, G-13.
Among the different phases of Bahria Town, Bahria Town Phase 8 has risen to the top of the popularity index, making it the most sought-after phase in Bahria Town Islamabad for purchasing a residential plot. The rates are quite affordable, like a 5 Marla residential plot in Phase 8 is available for sale at PKR 9.5 lakh. The price for a 10 Marla residential plot in the region is approximately PKR 15 lakh. A 1 Kanal plot in the region can be bought for PKR 32 lakh. Next comes Bahria Enclave, a 5 Marla plot in Bahria Enclave is obtainable around PKR 25 lakh and a 10 Marla plot can be bought at approximately PKR 37 lakh.
The third in the category of popularity is Gulberg. It has shown a 1.15% increase in the search trends since September 2020. Currently the performance is consistent, with zero changes, the citizens are keen in investing their money in this society throughout the preceding years.
|2||Bahria Town||No Change|
|5||Top City 1||No Change|
|8||Naval Anchorage||6% Increase|
Property Trends in Rawalpindi
The property trend of Rawalpindi begins with Bahria Town. Since Bahria Town falls partly in the jurisdiction of Rawalpindi, it has maintained the top position when it comes to buying residential plots because of the reasonable prices they offer. In contrast to 2018, the average price for a 5 Marla plot in Bahria Town has increased by 2.34 percent, and the property is now available for about PKR 45 lakh. Meanwhile, the price of a 10 Marla plot of residential land has dropped by 3.34% to around 82 lakh.
The second in terms of popularity is Capital Smart City. It has captured the interests of the citizens, so there has been a 10% increase in the sale prices of the plots. There will be a constant rise in the prices of Capital Smart City. The price of a 7 Marla residential plot in Capital Smart City has reached PKR 3,475,000, a 10 Marla residential plot is available at PKR 4, 565,000 and a 12 Marla residential plot is of approximately. A 1 Kanal plot in Capital Smart City is available at PKR 6,845,000. This amount is to be paid in a 3.5 years installment plan.
Another society that has arisen to the third popular one in Rawalpindi is Gulshan Abad. The value of a 5 Marla house in the city, which has an average price of around 56 lakh, is only marginally lower. The average price of a 10 Marla residential unit in Gulshan Abad is PKR 1.1 crore, up 4.04 percent from last year.
Apart from these societies, the CBR Town Phase 2, Taj Residencia, Media Town, Adiala Road, Chakri Road have shown constant progress.
|1||Bahria Town||No Change|
|2||Capital Smart City||1% Increase|
|3||Gulshan Abad||1% Increase|
|4||Chaklala Scheme||1% Decrease|
|5||Airport Housing Society||1% Decrease|
|6||CBR Town Phase 2||No Change|
|7||Taj Residencia||No Change|
|8||Media Town||No Change|
|9||Adiala Road||No Change|
|10||Chakri Road||No Change|
Property Trends in Lahore:
For the property trend of Lahore, the DHA comes first and foremost as the hottest property for investment. The 5 Marla houses, 10 Marla houses and 1 Kanal houses in DHA Lahore are very valuable to the investors. These properties have gained 0.72 and 4.12 index points, respectively. The price index for 1 Kanal houses for sale in DHA Lahore has increased by 3.52 points.
Next comes Bahria Town Lahore, because of the affordable prices. The price index for a 5 Marla house for sale in Bahia Town Lahore is positive 2.41 points. Similarly, 10 Marla houses for sale in Bahria Town, Lahore have increased by 3.58 points, while 1 Kanal houses for sale in Bahria Town have increased by 4.11 points.
Almost equally popular, yet third in line is Johar Town, there has been a noticeable growth in terms of price increase in the last few months. On the price index, the 5 Marla houses for sale in Johar Town have increased by 10.82 points. In Johar Town Lahore, the growth of 10 Marla and 1 Kanal houses for sale has been 1.36 and 2.92 points, respectively.
The other localities of Lahore, including Raiwind Road, Bahria Orchard and DHA 11 Rahbar have been consistent in performance.
|2||Bahria Town||No Change|
|3||Johar Town||1% Increase|
|4||Raiwind Road||No Change|
|5||Park View City||1% Increase|
|6||Fazaia Housing Scheme||1% Decrease|
|8||LDA Avenue||2% Decrease|
|9||Bahria Orchard||No Change|
|10||DHA 11 Rahbar||No Change|
The sky of the future shall be a promisingly bright one for the real estate due to the beneficial new packages the government has introduced. The real estate forecast 2021 also shows a good image. The rise and fall and stable momentum of the property trend shall continue, we at Sigma Properties observe it carefully to provide you with detailed consultancy.