Townhouses are gaining traction in Pakistan and their sales across the country have increased by nearly 15% in the last three years. These compact, economical homes are usually located within large compounds, and their prices are approximately 20% lower than regular houses.
If you are thinking about renting or purchasing a townhouse, factor in the following:
- Plot sizes range between 150 and 300 square yards and consist of up to four bedrooms.
- As per the prevailing bylaws, the original structure of a townhouse cannot be altered once it has been constructed.
- The demand of townhouses has increased by nearly 55% in the last three years across Pakistan; they are becoming increasingly popular in Lahore and Multan.
- Resale value increases by approximately 22 to 25% every year and monthly rentals by 14 to15%. This makes them lucrative investments.
- The neighbourhoods where townhouses are increasingly being established include:
- Karachi: Clifton, Gulshan-e-iqbal, North Nazimabad, as well as areas near the National Highway
- Lahore: Phases VI, VII and IX, DHA
- Islamabad: Sector F-14
6. Purchase price ranges (of townhouses) are as follows:
- Karachi: Rs 20-40 million
- Lahore: Rs 18-33 million
- Islamabad: Rs 20-35 million
7. Monthly rental ranges are as follows:
- Karachi: Rs 40,000-150,000
- Lahore: Rs 35,000-80,000
- Islamabad: Rs 40,000-100,000
By Nimra Sajjad. Information provided by Property Express Karachi. Defence Properties, Lahore and Marshall Property dealers, Islamabad.