Property prices in Pakistan

Like most other countries in the world, Pakistan is currently going through a property and real estate boom. The prices are sky high and are going even higher. Prime locations in chief cities like Lahore, Karachi and Islamabad are being chased by property hunters and the prices are already touching millions of US dollars. A one kanal house in areas like Gulberg, Model Town, and Defense are being sold for $200,000, $300000 to $500000 for two kanals and so on and so forth. The prices have risen almost five times of what they were a couple of years back. People have stopped selling in this market and hence it has become a sellers market. The wait for further increase in the price is holding buyers at bay and sellers in the wait.

Here in Lahore the property remain in high demand specially for the rental ones, but the problem is that the people there cannot handle the property as there is only one element along with the rent that needs to be paid by the person taking the place on rent is the tax annually which the owner should be paying but it is levied on the rental property that the tenant will pay. The owner should be responsible and they should pay by themselves.

Also it is good if one gets their property developed and them constructed as it is a being hazel that many people have to buy their own property and after that they have to customize it and then they feel better about it. Its good to get ones own property prepared from scratch and then you get to live in it and improve it as you prefer to.

Currently in Lahore the area of Johar town is preferred by locals and it is mostly on rental, Valencia is also a good place if one is in need of constructing their own property.