The Value Addition Of Property Portals in Pakistan’s Real Estate

Even five or six years ago, a call from the landlord telling you that you must vacate the house you are renting used to be something of a death knell, crushing you beneath the weight of what lay ahead as you embarked on the search for that elusive bit of rentable property you could call home for the next few years.We end up settling for overpriced, below-par accommodation simply because time runs out and we haven’t found that perfect place yet. At least that was the case until the more tech savvy among us discovered a treasure trove of properties for sale and rent on the Internet.Until recent years, online property portals were unheard of in Pakistan, which should come as a surprise given the country’s sound, booming real estate sector.ming real estate sector.

When real estate values refused to budge in 2014, all hopes were placed on the upcoming 2015 to bring along some momentum to the real estate sector. That much-needed activity in the real estate market has arrived, though in part, in the first half of 2015.In almost all of Karachi and Islamabad’s popular localities, prices went up over the course of January 2015 to June 2015 according to recent data. Lahore, however, continued to see slow activity and stagnating values, with a lethargic overall feel in the market.However, this should not be worrying. When investors tend to focus their energies and capital on Karachi, a relative decline in Lahore’s property market is often temporarily the result.On the bright side, there are several new projects on the cards in Lahore, including the 60,000-kanal LDA City and the 40,000-kanal DHA Phase IX.

These and other developments are widening the pool of investment opportunities in the city of Lahore, which should help steady its property market in the long haul.Lahore’s real estate market had a largely stagnant first half of 2015. One of the city’s top localities, Lahore Cantt, registered a 9.29% decline in prices over the course of the six months from January 2015 to June 2015. Meanwhile, DHA Lahore, Bahria Town and LDA Avenue 1 all remained stable.Property in DHA Lahore has always seen growth in monetary terms due to strict culture adopted by the DHA. Whether it is a piece of a land or a specific plot or a house, the prices have always gone up in the last few years. Not only it is always considered a safe but also people wish to purchase/rent a house here because of the tight security, clean roads and better infrastructure provided by the Defence Housing Authority.

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