Real estate transactions in Lahore have increased by nearly 40% in the last three years due to an increase demand for residential property, this trend is expected to persist in the forthcoming months.
If you are thinking about investing in property in Lahore, factor in the following:
The current prices of vacant plots and houses in Lahore are 25 to 40% lower when compared to those in Karachi; similarly, rentals are 18 to 20% lower.
Investors are increasingly purchasing vacant plots, constructing houses there, and selling them at a later stage; this has led to an increased demand for vacant plots.
Neighborhoods that are attracting investment include;
Phases VI and VII, DHA, are attracting considerable investment; this is partially due to the fact that the Allama Iqbal International Airport is a 20- minute drive away. Several commercial areas, community centers, golf clubs, parks and schools are currently being established there.
Raiwind Road has witnessed increased investment of late due to the establishment of several highways and freeways, as well as improved public transport. Property prices along the road are 10 to 12% lower compared to those located in the city centre; the demand for property has increased by 15 to 18% in the last two years.
- Available plots sizes include: 125,200,250,500 and 1,000 sq yards
- Purchase price range (plots): Rs 52,000-65,000 per sq yard
- Purchase Price range (houses): Rs 100,000-130,000 per sq yard
- Monthly rental (houses ): Rs 240-320 per sq yard
By Uzma Nawaz