Pakistan’s best real estate website, delves deeper into the real estate activity of Karachi.
Lahore, November 10, 2014: Karachi, the metropolitan city of Pakistan, never seizes to amaze anyone. Despite the ongoing political turmoil, in the city, its business or real estate activity has not slowed down even a bit.
Lamudi.pk, Pakistan’s biggest property portal, conducted a thorough analysis of the upmarket localities of Karachi’s real estate sector across all property categories, i.e. apartments, plots, houses and not surprisingly Defence Housing Authority (DHA) topped the list in almost all of these.
The detailed analysis of DHA and Clifton is as follows:
- DHA: The price activity of apartments in DHA showed a mixed trend, with Phase 4 & 5, noting a small decrease in prices, whereas for Phase 6 they increased and Phase 7 & 8 observed a hike with the highest one being recorded in Phase 8. This is most likely because Phase 8 is a newly constructed phase and its projects such as Crescent Bay, DHA City etc. are gaining a lot of popularity.
- Clifton: It registered an increase in prices, amongst all blocks with the lowest one being recorded in Block 2, amounting to 9%. Overall, the value of these apartments increased.
Conclusion: If you are looking for a small apartment then DHA’s Phase 4 & 5 are the best options, whereas for a long term investment perspective, Phase 7, 8 and Clifton’s apartments are the ones to go for.
- DHA: Again, these showed a fluctuating trend with stability in prices being observed in Phase 4’s, 300 square yard houses. On the other hand, Phase 7’s, 500 square yard segment saw a decline in prices around -12%. Phase 6, was the main interest of investors and resulted in a price jump of 16% in 500 square yard houses.
- Clifton: Contrary to the price increase of its apartments, house prices have majorly shown a negative trend. Block 1 houses exhibited a stable price trend amongst small houses, 500 square yard houses in Block 5, topped the chart with a 15% increase, whereas Block 4’s, 300 square yard segments showed a 14% decline in prices.
Conclusion: DHA Phase 7 houses are best for long term investment, whereas Phase 4 and Block 4 houses are the best options for buying a medium family sized house.
- DHA: For 500 square yard plots, the prices have risen in almost all the sectors of DHA, which clearly outlines the interest of investors in this locality.
- Clifton: Prices are more or less stable with just a fluctuation of around 5-10%.
Conclusion: DHA holds its dominance over Clifton in plot segments and the prices of its plots are continuing to increase due to high demand. Hence it is the best time to invest in DHA, especially its Phase 7 and Phase 8 extension.
Launched in 2013, Lamudi is a global property portal focusing exclusively on emerging markets. The fast-growing platform is currently available in 28 countries in Asia, the Middle East, Africa and Latin America, with more than 600,000 real estate listings across its global network. The leading real estate marketplace offers sellers, buyers, landlords and renters a secure and easy-to-use platform to find or list properties online. For more information, please visit www.lamudi.pk