May it be residential or commercial, plots hold a significant value in the rising property market of Pakistan. Considering the real estate/property market of Pakistan, so it is seen flourishing at a rapid scale with many local and foreign investors willingly taking part in it. However, it has been observed that among two basic types of property investments i.e., buying a ready-to-move-in house or a plain piece of land, the second one-the plain piece of land is considered to be more beneficial in terms of increase in the initial value.
Property has always been a smarter option to invest your money in. But with that being the smartest, it is a daunting experience due to a number of factors. Yes, you heard it right. While being profitable, it is one of the most complex matter because of its value.
When one buys a plot, the sole purpose is to gain double benefit from it. However, when we talk about gaining benefit from a property, it is all about selling it at a significantly higher value at which it was bought. However, the monetary value of any land is dependent upon a number of factors that are explained below.
Within this post, you will come to know how little things make a bigger difference.
The Pakistan’s property market is flying high in the sky with many builders and real estate brokers pitching customers with mind-blowing yet convincing deals. As a result, many people are seen investing in it but a severe lack is found pertaining to the knowledge of the market among prospective buyers. That is, people are quite unaware about the secrets of successful investment.
Here is a list of some of the leading factors affecting the value of the plot in Pakistan. Have a look!
Location and environment are two prime factors affecting the plot values around the globe. With that said, if you are looking to buy a plot in Pakistan, make sure you choose a good location and a suitable environment.
It works in a way that a plot located somewhere far away from the city will ultimately cost you less because the area must be undeveloped. Similarly, an equally larger plot with a cost higher located within the heart of the city.
Similarly, the environment also matters. Residential buyers will seek a relaxed and calmer environment whereas, commercial buyers will seek for a prime location within the hustle and bustle of the city.
Accessibility to basic life facilities in the neighborhood is another factor boosting a property’s value. This takes into account the presence of educational and healthcare institutions along with necessary entertainment amenities like parks, shopping malls, and saloons. In other words, the presence of commercial and entertainment centers affects a plot’s value to a great extent.
Moreover, security is another factor affecting a property’s value. This is the reason why people in Karachi are more concerned about investing in locations like DHA, Clifton, and Bahria town. These posh areas have their own security with well-trained security staff and CCTV cameras installed everywhere.
May it be residential or commercial, every single property has a special characteristic or a feature that sets its value within the market. Usually, it works as: properties located in Karachi has a different character as compared to the ones located in Islamabad and Lahore.
Considering the properties in Karachi, so a property that is built on a west-open location costs higher as it is a special feature.
Presence of modern infrastructure and transportation facilities within the vicinity is also counted as an important factor upgrading the value of any area or location. As per the conventional property standards in Pakistan, having a main expressway road near to the property adds to the value of the locality. This is basically helpful in assisting people to have convenience for public transport and daily commute.
Moreover, modern infrastructure development is another factor increasing the property’s value in a particular location.
The more a society is developed, the more its value increases.
It is the conventional property trend of Pakistan that developed projects that increases the value of a locality. This takes into account the development of both, basic necessities and luxuries in the area. Take shopping malls, petrol pumps, restaurants, supermarts, parks, gyms, salons, medical stores, for example, indicating that a location is fully developed or not. Considering Karachi, So Bahria town and DHA have considered as the top localities of the city provided that DHA offers a fully developed lifestyle that lacks a bit in the case of Bahria Town. This is due to the fact that Bahria town is still developing but DHA Karachi has been the best locality of Karachi for many past years and is now going to add another big real estate project (Emaar towers) to its heart-Phase VIII.
Last but not least, demand and supply is another situation influencing the property values in Pakistan. This means that a rise in demand for the plots boosts the rates high in the sky. For instance, have you ever wondered why plots are the most expensive in DHA and Clifton?
Because the demand is high and the supply is low. This high and low combination of demand and supply is a significant factor increasing a plot’s value within a certain location.
This is all you need to know before buying a plot in Pakistan. Moreover, in any case, if you are interested to buy a home instead of a plot, feel free to browse Instakin blogs. There is a lot of information about the real estate market of Pakistan.
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