Lamudi Releases Quarterly Real Estate Report for Lahore

Lamudi Releases Quarterly Real Estate Report for Lahore
Lamudi Releases Quarterly Real Estate Report for Lahore

KARACHI, 24 NOVEMBER 2016: We wrap up quarter three with mostly positive price

increases which represent a healthy real estate market. Plots and houses in core DHA

projects have remained popular with steady demand. The newly built houses in DHA

housing schemes have maintained constant demand given their high investment potential

and central location.

Plots prices surge in DHA

Plots in the popular DHA housing schemes increased substantially in the quarter to

September 2016. Leading the price hikes was DHA Phase 9 where the average price for a

1-kanal plot climbed to Rs 9.5 million. Investors and private buyers will be encouraged by

the price trends and analysts at Lamudi Pakistan expect this uptick to continue into 2017.

State Life Housing Society has increased in price by a marked 16 percent up to Rs

7,847,101 for a 1-kanal plot. This is no surprise given its accessible location close to the

Lahore Ring Road and just 15 minute drive to the Allama Iqbal International Airport.

DHA Phase 6 is the most expensive of all 1-kanal plots in Lahore (under the Lamudi study)

and the average price is Rs 18,267,437 but has decreased 5.92 percent since quarter two.

However, Phase 6 has been on a steady price incline since 2011, so the slight downturn is

likely to be temporary.

Demand for houses remains high

Topping the charts in the housing segment is once again DHA; with DHA Phase 5 and 6 still

the most popular and most expensive housing schemes in the Lamudi report. The average

prices to buy there are Rs 47,691,575 and Rs 44,344,988 respectively. One of the main

draws for DHA 5 is the international standard features for instance balconies, solar hot

water, and ocean views are normal, and security remains a priority for the management

company.

DHA 6 is similarly upmarket when it comes to its showcase features which include designer

interiors, multiple bathrooms, and secure parking facilities.

DHA Phase 3 tops the rental market

Average prices in DHA Phase 3 are Rs 139,218 per month making it the cheapest of the top

five most popular rental locations. The top five most popular in the period from July to

September were DHA Phase 3, Phase 4, Johar Town, DHA Phase 5, and DHA Phase 1.

The most expensive is Johar Town where the monthly rent will set you back Rs 188,056 per

month. At Johar Town, you are spoiled for local amenities given the many education

institutions, healthcare centers, and restaurants in the area. Many young professionals and

families are happy to live in the locality.

Overall, Lamudi Pakistan concludes that the market is healthy despite the uncertainty

caused by tax amendments in the past few months. DHA continues to dominate the market

offering investors a good opportunity to realize a return on investment—as long as they are

willing to wait a number of years.

***

ABOUT LAMUDI

Launched in 2013, Lamudi Pakistan is a global property portal focusing exclusively on

emerging markets. The fast-growing platform is currently available in 13 countries in Asia,

the Middle East and Latin America, with close to a million real estate listings across its global

network. The leading real estate marketplace offers sellers, buyers, landlords and renters

a secure and easy-to- use platform to find or list properties online.

MEDIA CONTACT

Shahzeen Haris

Communications Manager

shahzeen.haris@lamudi.pk

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