Buying a Plot in Islamabad Is A Lot Cheaper Than You Might Think
It is cheaper to buy a plot in Islamabad than one might think. There have been major developments in real estate which is one of the major reasons for reasonable and affordable options in this sector.
The real estate market of other cities is going through a correction phase but the housing market in Islamabad is more adaptive to change with investors coming in all the time. This is the reason that new housing projects are often seen in the city. Therefore, it is safe to say that the market in the Federal Capital of Islamabad is a lot more welcoming for new investors than in any other city.
The comparison between Lahore, Islamabad, and Karachi will determine the true value of investing in Islamabad. It is a better option among these three cities.
Lahore VS Islamabad – Where to Buy a Plot
Lahore is a rather mature market with little room for further development and the prices in the developed are already soaring. It is a comparatively expensive city for investment and it leaves little or no margin for great profits.
Lahore is more sought after by the business community and this has become the reason for market saturation in Lahore. In comparison, a one-Kanal plot in Bahria Town Lahore starts from 2.8 Crores while Bahria Town Islamabad offers a 1-Kanal plot at a starting price of 1.5 Crores.
This is a prime example of how much expensive it is to buy land in Lahore when compared with Islamabad. Similarly, it is also more expensive, according to a survey; it is 5% more costly to live in Lahore.
Karachi VS Islamabad – Where to invest inland
Karachi is the business hub of Pakistan and it is one of those cities where vertical living is appreciated over owning a piece of land. A fair comparison would be between the prices of the apartments in both the cities.
The price per square foot in Karachi is at least 20% more than the prices of apartments in Islamabad. The average price per sq. Ft. in Karachi is PKR 171,457 while in Islamabad, the prices are PKR 124,679. These prices are for the buildings in the city center. Hence, Islamabad is far more convenient to own an apartment.
The difference is even clearer that one developer, Emaar, charges two different prices for their projects in both cities. Emaar Cresent in Karachi offers a starting price of 3.09 Crores for their apartment. Whereas, the starting price in Emaar Hyde Park One is PKR 7.1 million.
Best Affordable Options to Invest in Islamabad
Islamabad offers many locations in the city where the plots are still affordable. But the prices will soon increase as the development progress in these new locations is rapid. The best locations to invest in this city are:
Conclusion
The real estate sector in Islamabad has changed dramatically with new housing societies being built in the city. This has increased the competition in the city making it more affordable for the people to own land. CDA is the regulatory authority for the property in Islamabad.
The perception of Islamabad being the most expensive in Pakistan is slowly changing because people are actually able to afford land in the Federal Capital. The reason is that these new housing societies are offering easy payment plans that are suiting the middle-class of the city and this is bringing a lot of investment to the city.
Moreover, other cities in comparison are not offering similar prices and many overseas investors are preferring Islamabad for this reason as well. Contact Manahil Estate to buy a plot in Islamabad!
