Amongst all the developed cities of Pakistan, the provincial capital of Sindh, Karachi, is home to an extremely diverse culture that enables its inhabitants to savor valuable living standards through exceptional real estate growth. The beautified residential areas along with commercial zones make Karachi a keenly targeted area for investors.
In the race towards becoming the most popular and successful municipalities, the seaside Clifton area of the former capital of Pakistan, happens to be at the top. It is an opulent municipality offering exceptional living conditions and accommodation. The prevalent richness is rooted in its historical perspective, the present social benefits and the wide-ranging economic growth aspects. As a result, the houses for sale in Clifton or the properties for rent in Clifton are a lot in demand and for all the right reasons.
Here is a brief breakdown of why Clifton is the ideal investment opportunity.
Sustainable economic growth
To begin with, the economic potential of properties in the Clifton municipality is evident in the fact that properties for sale and rent in the area have maintained a consistent upward trajectory despite of declining trends in other parts of Karachi. According to a data provided, Clifton’s property value of houses for sale and rent recorded an annual growth of 23% in 2018, surging way ahead of similar hot addresses in other cities such as DHA in Lahore and F-11 in Islamabad which managed to post merely 10pc growth. Presence of multinational corporate headquarters and reliable developers in the area should go a long way to assure anyone planning to invest in houses or flats in the Clifton area that they are making a prudent financial choice.
The Clifton locality offers an immensely profitable investment opportunity for properties because the rental income of houses and apartments there are growing at a rate unmatched by any other real estate avenue. The rental appreciation of 15.39% per year is by far the highest ever in Pakistan. A 2016 Reuters report credited it for maintaining the lead in property value and thus a popular attraction for investors from both domestic and overseas market. This has contributed to making Clifton the most promising property investment in Pakistan at the moment and houses there are selling like hot cakes.
An often asked question in the real estate affairs happens to be whether or not the investment is secure. It is done so because fraudulent schemes and property advisors at times have used fake propaganda to sell their ideas which in return have come back to haunt the stakeholders. Clifton is safe in this context because it is run under the radar of government and reliable financers, hence unidentified scams have no place in the vicinity. Besides credible sources leave no evidence of ever being a highlighted swindle in the Clifton municipality.
Stable law and order situation is usually the top priority when opting for property either for residential or investment purpose. Security arrangements in the vicinity of Clifton and surroundings are absolutely top notch as the area is home to several foreign missions including the British, Chinese, Italian, Russian, and Iranian Consulate, Consulate General of Switzerland as well as the Kuwaiti consulate among others. Moreover, Clifton is home to a large number of Chinese nationals who reside and work there. This means extraordinary security and not even a glimpse of street crime that is rampant in other parts of Karachi.
Clifton is home to several tourist hotspots such as Dolmen Mall, Bahria Icon Tower, Mohatta Palace, Boat Basin Park, and Teen Talwar but the Clifton beach easily tops the list. All these places have made it a must-go for everyone who visits Karachi and thus an excellent real estate investment opportunity. Properties including shops, houses, villas, and apartments in the area are always in hot demand and business activity is guaranteed. Moreover, the whole coastal belt is being developed for tourism purposes under the second phase of CPEC coupled with the presence of the country’s only Chinatown which will further enhance its value multifold.
A healthy lifestyle
Clifton also offers a very healthy lifestyle evident in the numerous high-end hospitals and clinics that are a part of it. Examples in this regard are of the Pak China acupuncture and physiotherapy clinic, OCAF hospital, Dr. Alvis pearl dental clinic, Dr. Khalil Maher (Hilal-e-Ahmer) and the Beach recovery center for Rehabilitation. It is a dream place for doctors, pharmacists, and test labs. Also, the strata of society worried about the best medical facilities near to their home or workplaces also stay satisfied. The aspect of Clifton offering healthy lifestyle is another reason that makes properties for sale in Clifton stay in high demand.
A culturally rich background
Last but not least, the historical context itself is enough for investors to tilt their focus towards investment in Clifton. Home to the shrine of an acknowledged patron saint, Abdullah Shah Ghazi, that is adjacent to a one and a half centuries old Hindu temple of Sri Ratneswar Mahadev, Clifton saw its initial development through the colonial British rulers of the 19th century. Several other historical infrastructural projects such as the three swords and two swords monuments constructed in the 1970s leave enough symbolic association for the masses to engage themselves with Clifton one way or the other and provide the area with a sense of rich cultural history.
To conclude it can be stated with authenticity and confidence that Clifton is a heaven for investors. Not only does it offer great value for houses for sale or rent in the vicinity but it also provides great prospects for economic yield in the long term. The presence of multinational brands along with foreign nationals backs its ever-rising demand. This affluent municipality happens to be one of the most expensive real estate because of all the aforementioned reasons. It will not be out of the way to say that Clifton itself is a manifestation of the ever-evolving city of Karachi and a golden investment opportunity in the context of properties for sale or rent.