Property Trends In 2014 – Residential & Commercial 

Seven months into 2014, and experts feel that the year has so far, despite property price and demand fluctuations, been a good one for the real estate market. Here are some of the trends that the real estate market has witnessed so far this year:
A. Residential Property
¤Demand for residential property (including apartments, houses and townhouses) increased by 15%.
¤Price increased by 10 to 25% in Karachi; five to 20% in Lahore; and seven to 10% in Islamabad.
¤Rental rates increased by 15 to 25% in Karachi; 10 to 12% in Lahore; and 15 to 18% in Islamabad.
¤Areas that attracted the most investment include Phase VIII, DHA and DHA City in Karachi; Bahria Town in Lahore; and Sectors 114-16 in Islamabad.
¤Demand for apartments and property in gated communities continued to increase; approximately 25 apartments complexes and gated communities were established in Karachi, seven in Lahore  and two in Islamabad.
¤Investment in gated residential communities at the outskirts of metropolitan cities increased by 25%.

B. Commercial Property
¤Demand for commercial property (including office and retail space in commercial buildings, as well as standalone shops) increased by approximately 10%.
¤Prices increased by 10 to 20% in Karachi; 10 to 15% in Lahore; and 10 to 12% in Islamabad.
¤Rental rates increased by 10 to 20% in Karachi; 10 to 15% in Lahore; and 15 to 20% in Islamabad.
¤Areas that attracted the most investment include Clifton and PECHS in Karachi; Liberty Market and Block Y, DHA in Lahore; and Sector F-11 and Blue Area in Islamabad.
¤Approximately 30 commercial projects (including  malls and shopping centers) were launched in Karachi, 10 in Lahore and five in Islamabad.

By Uzma Nawaz.  Information provided by Citi Associates (Karachi), Kami Estate (Lahore) and Tariq  Khan and sons (Islamabad).

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