Lahore, the capital of Pakistani Punjab, a city of historical architecture, beautiful gardens and prestigious colleges and universities. People of Lahore feel proud of having such rich history of their city.
Predominately, Lahore’s architecture and construction is a mixture of Victorian and Islamic architecture, it is often referred to as indo-gothic. Construction in Lahore has always been more towards making a statement rather than focusing on the functionality.
Construction and mainly, residential construction in Lahore has always been different than in Karachi. For a person living in Lahore, which is the provincial capital of Pakistan, and one of the major cities, owing land and being able to bear the Construction market in Lahore is a matter of great financial stability.
As the city is more urbanized, the trend of apartments, rather than independent housing is increasing day by day. Lahore is currently undergoing large economic growth patterns and the businesses have just started to flourish there. As compared to Karachi, Lahore has a long way to go and it has to bring about change in the way construction is done in Lahore in order to accommodate human capital on cheap rates for larger and expanding business.
Gulberg, a posh residential area in Lahore was developed away from the congested city of Lahore. It soon became famous for having larger size of plots. Very soon, most Celebrities and famous personalities of Lahore started to reside over there to live in a peaceful and secure environment.
With the passage of time, Gulberg became a center for major business activities. There was a boom of commercialisation due to the opening of restaurants, schools, colleges, offices and hospitals due to which privacy of the residents of Gulberg was compromised. Hence people started looking for other options like DHA Lahore.
The traditional lifestyle and housing styles offer separate plots to the residents of Lahore, which gave them privacy and safe and peaceful environment. However in the past few years, due to urbanisation and boom in businesses, apartment system is seen to be cultivating in the posh areas like Gulberg. There are many apartment projects started, completed and were given possessions like spring apartments home Lahore, DHA Pentasquare Lahore, air avenue Phase 8 DHA and many more.
The trend of luxury living is increasing day by day in Lahore. An estimate says that there is a rise of 7 to 9% in the last decade. People now prefer to choose apartments over separate residencies because they are secure, well maintained and have ample parking facilities. Thus it is not surprising that the apartment prices were risen 120% between 2010-2016.
On the other hand, those who can afford the luxuries of separate houses prefer to live in gated communities. As soon as a scheme is announced they are booked instantaneously. The gated housing schemes have also given a boom to residential construction market and architectures and builders have now more and more room to show their creativity in the residential construction in Lahore.
Ali Rathore is a real estate professional with more than 15 years of expertise. He has worked with customers in a range of industries, including real estate for residential, commercial, and industrial purposes. He is quite knowledgeable about investment techniques, market trends, property management rules, and real estate legislation. When it comes to buying, selling, or investing in real estate, he wants to assist readers make informed decisions by sharing his knowledge.
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One Comment on Residential Construction Trends in Lahore For The Past 5 Years
investment in Gwadar is really attractive due to prices which have been set by the residential and commercial projects. Most of the time, these prices are not reliable and if there is a major difference in price.