Pakistan Real Estate Trends to Watch In 2022
Overview
The real estate trends in Pakistan are changing with numerous exciting new housing ventures being introduced by renowned builders and developers all over the country, attracting both local and overseas investments.
The country is also focusing on sustainable urban development and the government has proposed the concept of vertical cities in line with this strategy. The concept revolves around developing high-rise infrastructure that takes up minimal space in over-populated cities and also preserves the surrounding environment.
The real estate trends in Pakistan are moving towards developing carefully planned housing societies that offer a luxury living experience on a budget and are also conducive to sustainable practices.
High Rise Buildings
Recently, various skyscrapers are being constructed in Islamabad, Lahore, and Karachi which is a result of development authorities in all three cities releasing updated guidelines that supported the construction of high-rise buildings.
This is also a beneficial opportunity for engineers, architects, and other personnel from the development and construction sector as high-rise buildings require expertise and well-thought-out design blueprints.
These skyscrapers are especially popular amongst millennials as many of them are choosing to live in apartments instead of houses as they are more affordable and are less of a hassle to maintain.
Mixed-Use Developments
This is an up-and-coming trend in Pakistan where residential, commercial, and in some cases, corporate compounds are all combined to form a mixed-use community. This is becoming popular because of easy access to facilities, entertainment, shopping spots, and workplaces all in one place.
The convenience of the design is what attracts customers with increasingly busy daily lives. Currently, Lahore has the highest number of mixed-use buildings with more in the works.
Gated Communities
The popularity of gated communities arose from the development of Bahria Towns and DHAs across the cities of Pakistan. Now, almost every new housing society that is currently under progress is a gated community.
One of the most appealing factors of a gated community is the security and safety provided by authorized personnel around the clock. Moreover, since these communities are very carefully designed, many recreational activities, as well as facilities such as schools, gyms, parks, libraries, shopping plazas, and restaurants, are in close vicinity of the residential areas.
Low-Cost Housing
To counter the imbalance between the growing population of Pakistan and the housing shortage, Prime Minister Imran Khan has initiated Naya Pakistan Housing Project NPHP). This project will be providing affordable housing to low to middle-income families and the government plans to develop five million housing units.
In addition to this, a prefabricated housing plant has also been established to provide housing units for this project. These homes will be developed in the factory and then shifted to the preferred site. Mr. Zaigham Mehmood Rizvi, who is the chairperson of the NPHP, has also stated that international contractors from various countries including Saudi Arabia, Turkey, Qatar, and China are interested in this project as well.
This is beneficial because state-of-the-art technologies owned by large-scale manufacturers will be required to achieve the government’s aim.
Villa-Style Homes
Homes that are based on the design of Villas are becoming increasingly popular and numerous up-and-coming housing ventures have included such accommodations in their master plans. These homes provide a lavish and extravagant living experience to the resident without breaking the bank.
These homes are adorned with grand layouts and contemporary finishes and provide access to excellent facilities and amenities. That is why Villas are one of the most sought-after and desired properties nowadays because luxury has never been this affordable.
Hotel/Serviced Apartments
The most renowned names in the hospitality industry include Swiss International. Radisson and Ramada are developing hotel-style apartments which will provide fully furnished accommodations with first-class round-the-clock facilities including concierge service, room service, valet parking, and housekeeping.
One of the most popular real estate trends in Pakistan is the perfect combination of a residential apartment and a hotel as it provides customers with a 5-star experience all the while also offering privacy and comfort. These homes are perfect for tourists and corporate executives that require a comfortable place to stay with a luxury experience.
Townhouses
Townhouses have been previously developed in countries all over the world and are very well-received and in-demand. These popular housing units are now being introduced in Pakistan and feature a smaller house but with more stories to provide a larger living space.
This promotes a community living experience because more houses are developed on one site. These houses are ideal for smaller families and also provide a first-class living experience with aesthetically designed layouts, all on a budget.
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