Despite an increasing number of malls across Pakistan, old-fashioned bazaars continue to attract a high football. This is mainly due to the fact that shops located there deal in a wide variety of goods (including electronic appliances, fabrics, handicrafts, homeward, jeweler, prêt and toys) which are usually found at bargain rates.
As a result, standalone shops and retail space in these bazaars remain in high demand and are considered lucrative investment option; their annual POI ranges between 15 and 18%.
Here are three well-known bazaars in Pakistan that continue to attract investment:
1. Lahore’s oldest and most popular shopping hubs. The mausoleum of Sultan Qutubuddin Aibak is located within its periphery. Property options are limited to standalone shops, their prices increase by eight to 10% every year.
Available shop sizes: 33, 60,120 and 250 square feet
Purchase price range: Rs 80,000-110,000 per square foot
Monthly rental range: Rs 500-650 per square foot
2. Bohri Bazaar is located in sadder, Karachi. It is easily accessible via Preedy Street, Shahrah-e-Iraq and Zaibunnisa Street. Property options primarily include standalone shops; their prices increase by seven to every year.
Available shop sizes: 50, 80, 150, 250 and 400 square feet
Purchase price range: Rs 120,000-135,000 per square foot
Monthly rental range: Rs 800-1,200 per square foot
3. Raja bazaar is located in Rawalpindi’s city centre, and is accessible via several thoroughfares including city Sadder, Iqbal, Kashmiri Bazaar and liaquat Roads. Property options include standalone shops and retail space in low-rise buildings; their prices increase by 10 to 12% every year.
Available shop sizes: 50, 120 and 250 square feet
Purchase price range: Rs 50,000-80,000 per square foot
Monthly rental range: Rs 450-700 per square foot
By Uzma Khateeb- Nawaz. Information provided by Karachi Estates, Nauman Estates, Lahore and Royal Marketing, Islamabad.