The property market has barely any investors left. This is also the reason why areas and projects meant primarily for investors have shown little market activity recently. On the other hand, many projects have become the new favorites for active buyers. These notably include societies that feature low-cost options. Furthermore, the demand for smaller plots has gone up. Housing societies that mainly feature prime category 1- kanal plots lack demand. And this is despite the fact that affordable housing schemes in the same neighbourhoods register high transaction volumes. Property rates in all premium and high-end investor-centric societies on the Ring Road and Raiwind road have dropped, while low-cost projects featuring smaller plots continue to register growth. Some of the more prominent projects in this part of Lahore include Bankers town and LDA City. Bankers town features small-sized plots whose market rates are relatively low. Similarly, market rates of plots in LDA City also attract end users.
Investment volume will increase as soon as the situation improves in favour of premium projects. The central parts of the city now suit people who live in rental properties. The fact remains that the market situation has lately improved for real estate builders in Lahore. For many buyers, the cheaper projects for buying a plot or house are located in the Southern suburbs of the city. This explains the rise witnessed in property demand and value in LDA City and Grand Avenue. We expect further appreciation in rates because projects here also interest investors. Defence Housing Authority (DHA) projects, including Phase 9 Prism, also continue to serve the end users and buyers with long-term investments plans. The developer’s strong reputation makes DHA phase 9 Prism a dependable society when it comes to saving money and scoring high returns on investment.
In the beautiful city of Pakistan, investment activity was witnessed in these areas. These are the societies set to benefit from the city planned infrastructural developments. Among these, the most active society right now is State life Housing Society, and Formanities Housing Scheme. Formanities Housing Scheme attracts end users, as property rates here are lower by half in comparison with other Schemes in Lahore. Furthermore, development work is complete by 80%, while work on the remaining 20% is underway. This difference in price is likely to disappear with time. For a large number of investors, State life housing society is ideal. This is due to the project’s proximity to the near Lahore Ring Road. Prices here will rise as soon as work on its phase II development starts. At the same time, some areas of DHA 9 and Phase 5 also witnessed genuine demand. Some investors also fine DHA prism appealing because development work in some blocks here is in its advanced stages. Other small projects that witnessed high demand in previous months, currently fare low in terms of attracting clients. This is because of early market hype, which caused investors to buy property at higher rates. The subsequent drop in investment volume brought along major rate dips.
Investment Recommendation
We recommend investors to choose and to buy 5 marla plots in Bankers town Lahore, as Real Estate market here have been seen to drop by up to 30% in the past. Such price drops sound for a rise in demand, which is certainly happening right now. Always choose reliable society that is way, we recommend the societies which are approved by the Lahore Development Authority (LDA).
