Pakistan real estate sector has celebrated 2012 as a very happening year, as the sector experienced spikes in property demand, the number of property transactions and property prices.
All these factors have laid the foundation of promising performance of Pakistan realty sector in 2013. Experts at Zameen.com discuss the progress of Pakistan real estate sector and conclude that the sector will scale new heights in the years to come.
2012 was celebrated as a happening a year of robust recovery for Pakistan property market as the sector experienced growth in terms of sales and rental prices, property demand and the number of property transactions throughout the country. According to several renowned and registered Pakistan property agents at Zameen.com, 2012 was the best year since 2007 when a lot of genuine buying and selling was observed in most of the leading local realty markets including realty market of Lahore, Karachi and Islamabad. Most of the buying activity was witnessed in luxury residential projects of Lahore including DHA, Bahria Town, Johar Town and Valencia Town.
DHA Lahore phase 9 plots remained the hottest pick of the year in most of the recently announced phases. Experts believe that people have invested there in order to secure their hard-earned money and to get maximum returns in future. Seeing the previous year activity, real estate experts show great confidence in Pakistan property market and rule out any chances of “property bubble” in the country in the near future. Though 2008 global recession did not directly hit the Pakistani market but the sector experienced some minor effects. However, these effects emaciated in 2012 and now the sector is all set to sail to new heights.
Pakistan property experts conclude this statement on the basis of new property project announced in response to rising demand of quality residential properties in all the leading realty markets of Pakistan. The region is experiencing a rise in demand of luxury properties in all the leading cities. However, to cater to the demand of high-end clientele, luxury property developers have adopted a very balanced approach and only announced selective new luxury projects. For instance, Bahria Town has recently introduced properties and plots in sectors E and F while Defence Housing Authority (DHA) has announced plots in DHA Lahore phase 9, 10 and 11.
Most of Bahria Town and DHA Lahore plots are now available for sale and potential investors can get extensive listings of these plots on online portals. Nafees Bhatti, a Pakistan real estate expert at Zameen.com, said, “The announcement of all these projects further confirm the stabilisation and revival in Pakistan realty market and strengthen the belief that Pakistan realty market will scale new heights in the years to come.”