Reasons for Rising Property Prices in Bahria Town Phase 8 Rawalpindi
Bahria Town Phase 8 Rawalpindi has seen an unprecedented boom in the past month where property prices have gone up by more than 100% in some blocks. Property dealers and investors smelled this rise beforehand and started to hold as much property as they could before the rise hit the phase 8.
The boom in the property prices has not only made general buyers rich overnight but also the investors, who had been worried about the low return on investment and who had waited long for this moment to come. People may be thinking how this boom happened in Phase 8, as market had been very slow throughout the year until 2 months back and property prices had been stagnant or low,so what different has happened now which has caused prices to jump overnight and the rise is still ongoing so is the demand.
Those who couldn’t invest in Bahria Town Phase 8 before this hike are surprised and they ask what has caused this much rise within a short period of time. We will try to answer these questions to the best of our understanding.
There are 4 basic reasons which may have helped property prices to skyrocket within this short span of time.
- Announcement of commercial zone and New Airport in Rawat
- Devaluation of Rupee Against Dollar
- Law & Order situation in the Country
- Bahria Town Phase 8 Development Near Completion
Let us explain how these factors may have affected the prices of Bahria Town Phase 8 Rawalpindi.
1- Announcement of Commercial Zone and New Airprot in RAWAT:
About 2 months ago, Zone 2 of Islamabad was the hottest option for investment due to major societies being developed there, its closeness to zone 1, and New Islamabad Airport. When the news about New Islamabad Airport being planned and Commercial Zone to be made in RAWAT which is very close to Bahria Town Phase 8 and DHA Phase 2, people who were planning to invest in zone 2 societies shifted their capital to bahria town and DHA, so the prices started increasing after that news and bahria town and dha phase 2 benefited a lot from this news of future project in RAWAT.
2- Devaluation of Rupee Against Dollar:
As rupee started being further devalued against dollar recently, smart investors started to put their money into real estate besides other investments so that the value of their money can be sustained or rather increased by the time the rupee value stops spiraling down against dollar. Massive investment have been made in the real estate so far and it still continues which has pushed up the prices of property. Bahria Town being the best opportunity as mentioned in reason # 1, it received major chunk of investments which resulted in its prices getting higher.
3- Law & Order Situation in the Country:
Bahria Town has always been the safest society to live in. They have their own full proof security system which resulted in least crime rates in bahria town schemes as compared with other housing societies. Current law & order situation in Pakistan has created a sense of insecurity in the individuals so they want to live in society where they can live safely and peacefully. This sense of insecurity caused a large number of people from insecure areas especially KPK which is badly hit with terrorism and law&order situation, to Islamabad and Rawalpindi. Here again Bahria Town Phase 8 was the most affordable option for people as compared with the given facilities and security, so it became the most demanded society.
4- Bahria Town Phase 8 Development Near Completion:
As Bahria Town Phase 8 is a developing area while other phases of Bahria Town are fully developed. So the prices in Phase 8 have to go up to the level of other developed phases as soon as development work in complete and people start living there. Current status of Bahria Town phase 8 is that more than half of the area has been given possession and remaining blocks will be given possession within some months. Developed blocks’ plot prices are more than 50% higher than those of developing blocks. As soon as remaining blocks are complete and people start living there, their prices will rise up to the level of other developed blocks too. So these increasing prices show the maturity of the residential project of phase 8.
If we have missed any aspect of the phenomenon of rising prices in Bahria Town Phase 8, feel free to share your knowledge using the comments form below. If you like this article, share it on your social networks using the social sharing widget to the left of the window.
Here are some more images from Bahria Town Phase 8 Rawalpindi.
Artificial hikes are also created by Bahria Town Dealers. These are mostly unsustainable. People are requested not to buy files, but they can buy possession plots as they won’t lose value.
What’s current cost and is it good time to buy or invest
yes, this is the right time for investment as prices have come down now, and become stable at a certain level. Prices will start going up from march onwards due to arrival of many overseas Pakistanis who usually invest in property.
I had booked a 10 Marla Plot in Bahria Town Phase VIII, Islamabad in August 2004. I have paid half amount till year 2007. I could not continue to pay the remaining dues after year 2007 as I was surrounded by series financial crises, when my father was hit by Cerebro Vascular Stroke for which he was admitted in Hospital for several months. Pertaining to the aforesaid, most of my financials were being spent on his treatment in consequences of the due investigations carried out by Hospitals. I had applied to the Bahria Rawalpindi Authorities However they have refused my application… Please advice what to do now.
Dfyg, i might be able to help you but i would need to know your circumstances in detail?
Nice to kno ,, kindly direct me , for a short term invstmnt, like about 30lacs , whr u suggeet to spend ?plz,shah
Garden city has got scope ?
how will block k be completed/?
blocks J,K.L,M,N will be completed by the mid to the end of this year. development work is in progress.
N wat about 8 e plz?
when will they give the possession of e4. I have a 5 marla e4 plot bought for 32 Lakhs and now price is somewhere in 20s. i
when shud i sell this plot to get my money back with some profit
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DHA and Bahria have dragged down far the original RWP and Islamabad cities to the East, as they are located more than 30 kilo meters away from the down town.
Contrary to the rumors spread by some zone 5 housing societies, none would dare to cancel the new Islamabad airport (located in zone 2) which is almost complete now, and it shall be opening next year.
In the event of above, many colonies located near Rawat, are set to go into slow mode, so the investors and genuine buyers need to be conscious due to excessive marketing and artificial price escalation there.
In order to counter this impeding slow mode phenomena, the zone 5 societies float the Rawat Airport news off and on basis. One colony in zone 5 is even offering possession of plots only against 10% down payment, which indicates massive problems brewing up in these areas.
On the other hand the zone 2 is taking shape fast, where Mumtaz City and Top City are taking the lead. Top city (which is equal to one full sector of Islamabad ) has gathered more pace for developing the land which now is visible and once the airport starts, this housing scheme could generate big potential to rise and match the rates similar to Bahria, DHA and to some extent with Islamabad sectors.