Investment in farmhouses located on the outskirts of our cities has increased by an estimated 30% in the last three years. Farmhouse are especially popular during the winter months, as they are rented out as vacation homes, as well as venues for festive occasions such as wedding receptions, parties and corporate events. Factor in the following if you are planning to invest in (or rent) a farmhouse: 1. Location and property value. Farmhouses are usually built on plots ranging between 10,000 and 30,000 square yards. Because they are located on the outskirts of a city, their prices 50 to 70% lower compared to the city prices. However, farmhouses near major thoroughfares are approximately 40 to 50% more expensive than those further away. The return on investment (ROI) on farmhouses usually ranges between 15 to 20% per year, while their value increases by 10 to 15% during the same period.
2. Facilities. The farmhouse itself usually takes up 10 to 20% of the land, and consist of gourd to five bedroom, a living room, a kitchen and domestics’ quarters.a. The remaining land in used for lawns and orchards, as well as facilities including a swimming pool, tennis court and stables for horses. Other facilities include water, backup generators, cable TV and internet access.
3. Farmhouses can be found in the following areas:
* Faisalabad: Bypass Road, Canal Road and Samundari Road.
* Islamabad: Naval Farms and Orchard Scheme.
* Karachi: Bin Qasim Town, Gadap Town and Super Highway.
*Lahore: Bedian Road, Ferozepur Road and Raiwind Road.
*Peshawar: Charsadda Road, Nasir Bagh Road and Warsak Road.
By Syed Wajeeh-ul-hassan Naqvi. Information provided by EZ Estate, Lahore.