Karachi, Lahore properties still hot, steal limelight
Islamabad fails to post impressive growth, reveals report
Bahria Icon Tower in Karachi's Clifton. PHOTO: AFP
LAHORE:
The real estate market in Lahore and Karachi appears in no mood to dial down its growth despite sobering speculations of adverse impact of federal taxes. These taxes were expected to heavily tax property transactions, thereby forcing investors to think twice before entering the real estate market.
Punjab Assembly approves taxes on vacant plots, imported cars
Statistics from Zameen.com reveal a robust growth in the prices of real estate in Karachi and Lahore in the month of May. However, Islamabad has been proven to be a major laggard, marking a sub-impressive growth for May.
Karachi
Karachi’s profitability remained untamed with investors ending the month with long grins as the property prices experienced a sharp incline.
Property values in Karachi’s Defence Housing Authority (DHA) have been on a consistent upward trajectory for the last few months. In May, the locality experienced a controlled rise of 1.07% in the value of 500-yard plots. It still has potential for further growth in the future, said Zameen.com. Bahria Town Karachi also remained in the race with enthusiastic investment activity and 2.86% rise in the prices of 500-yard plots in May.
Real estate in Karachi to stay unaffected despite budget proposals
Gulshan-e-Iqbal could not perform equally well. Being a fully developed society, it did not experience impressive investment activity and ended the month with a mere 0.24% rise in the value of 500-yard plots.
Lahore
Investors appear to have been magnetised to Phase VII to IX in DHA Lahore, as the prices of 1-kanal plots in these phases increased 4.90%.
However, the first six phases of DHA Lahore were not able to keep up with aforementioned sectors, but their performance was not disappointing either.
Stability was the order of the day in Bahria Town (proper), however, Bahria Orchard impressed investors with a sharp ascent of 6.39% in the prices of 1-kanal plots, the data said.
Just like other localities situated on Raiwind Road, LDA Avenue I performed well during the month and the prices of 10-marla plots in the locality saw an increase of 7.57%. Wapda Town, on the other hand, clung on to mere stability. This trend is not surprising, as Wapda Town is fully developed and does not attract sizeable investment activity.
Islamabad
Islamabad’s market troubled investors in May. DHA Islamabad, which has been showing continuous growth for the last few months, ended on a stable note registering only 0.67% increase in prices of 1-kanal plots.
Bahria Town also performed sluggishly as prices dropped by 1.82% in the 1-kanal category. Investors are perhaps more interested in other Bahria Town projects across the country and are probably testing the waters in case of Bahria Town Islamabad/ Rawalpindi.
Sectors E-11 and F-11 were no different and prices in the localities increased 0.16% and 0.96% respectively during the month. This can be attributed to the fact that these sectors largely cater to genuine buyers and sellers with only a few plots remaining, the data suggests.
Published in The Express Tribune, June 29th, 2016.
The real estate market in Lahore and Karachi appears in no mood to dial down its growth despite sobering speculations of adverse impact of federal taxes. These taxes were expected to heavily tax property transactions, thereby forcing investors to think twice before entering the real estate market.
Punjab Assembly approves taxes on vacant plots, imported cars
Statistics from Zameen.com reveal a robust growth in the prices of real estate in Karachi and Lahore in the month of May. However, Islamabad has been proven to be a major laggard, marking a sub-impressive growth for May.
Karachi
Karachi’s profitability remained untamed with investors ending the month with long grins as the property prices experienced a sharp incline.
Property values in Karachi’s Defence Housing Authority (DHA) have been on a consistent upward trajectory for the last few months. In May, the locality experienced a controlled rise of 1.07% in the value of 500-yard plots. It still has potential for further growth in the future, said Zameen.com. Bahria Town Karachi also remained in the race with enthusiastic investment activity and 2.86% rise in the prices of 500-yard plots in May.
Real estate in Karachi to stay unaffected despite budget proposals
Gulshan-e-Iqbal could not perform equally well. Being a fully developed society, it did not experience impressive investment activity and ended the month with a mere 0.24% rise in the value of 500-yard plots.
Lahore
Investors appear to have been magnetised to Phase VII to IX in DHA Lahore, as the prices of 1-kanal plots in these phases increased 4.90%.
However, the first six phases of DHA Lahore were not able to keep up with aforementioned sectors, but their performance was not disappointing either.
Stability was the order of the day in Bahria Town (proper), however, Bahria Orchard impressed investors with a sharp ascent of 6.39% in the prices of 1-kanal plots, the data said.
Just like other localities situated on Raiwind Road, LDA Avenue I performed well during the month and the prices of 10-marla plots in the locality saw an increase of 7.57%. Wapda Town, on the other hand, clung on to mere stability. This trend is not surprising, as Wapda Town is fully developed and does not attract sizeable investment activity.
Islamabad
Islamabad’s market troubled investors in May. DHA Islamabad, which has been showing continuous growth for the last few months, ended on a stable note registering only 0.67% increase in prices of 1-kanal plots.
Bahria Town also performed sluggishly as prices dropped by 1.82% in the 1-kanal category. Investors are perhaps more interested in other Bahria Town projects across the country and are probably testing the waters in case of Bahria Town Islamabad/ Rawalpindi.
Sectors E-11 and F-11 were no different and prices in the localities increased 0.16% and 0.96% respectively during the month. This can be attributed to the fact that these sectors largely cater to genuine buyers and sellers with only a few plots remaining, the data suggests.
Published in The Express Tribune, June 29th, 2016.