The one thing about property trends that never changes is that they are always changing, mostly on the higher side. In a city as big as Lahore, the property sales trends reflect different investor behavior in different areas. For example, the sales trends in a posh area will be different than those in the less developed area and vice versa.
In this blog, we shall take a look at the property trends in Lahore in January 2020.
The Major Slump
In the last year or so, the property market has witnessed a major slump in the valuation of the property. The prices have increased but not with the same ratio as they had been increasing in the past. In the last one month, the graph on the property price index shows a slow growth with a straight line across the horizontal axis. The change in the price per sq. ft. the land is only PKR 5. The current average price per sq. ft. land in Lahore stands at PKR 10,746. Considering the recent slow growth, the figure is not about to change that much in the coming month as well.
Popular Areas in Lahore for Investments
The popular areas in Lahore for investment purposes where the sales have been made this month are Defence Housing Authority (DHA), Bahria Town, Wapda Town, Johar Town Phase 2, Model Town, and State Life Housing Society. Investments have also been made in societies like Paragon City, Askari, and Allama Iqbal Town, among others.
Price Index for Houses for Sale in Lahore
The hot property for investment has been 5 marla houses for sale in DHA Lahore, 10 marla houses, and 1 Kanal house in various sectors or blocks respectively. These properties have shown a gain of 0.72 and 4.12 index points. The 1 Kanal houses for sale in DHA Lahore have shown a gain of 3.52 points on the price index.
Moving on, the 5 marla house for sale in Bahia Town Lahore has earned positive 2.41 points on the price index. Similarly, the 10 marla houses for sale in Bahria Town, Lahore have shown a gain of 3.58 points while the gain of 1 Kanal house for sale in Bahria Town was 4.11 points.
Speaking of Johar Town, this area has shown massive growth in terms of price increase in the last month or so. The hot properties in this area in the house category has been the 5 marla houses, 10 marla houses, and 1 Kanal house. The 5 marla houses for sale in Johar Town have shown a massive growth of 10.82 points on the price index. The growth of 10 marla houses and 1 Kanal houses for sale in Johar Town Lahore has been 1.36 and 2.92 points respectively.
Houses in Model Town Lahore and houses in Allama Iqbal Town Lahore have mostly been on the declining side and the growth is not as exemplary as the areas discussed above.
Price Index of Plots for Sale in Lahore
The plots for sale in Lahore were once considered the best investment option. However, the statistics of the past one month or so suggest otherwise. The average price of the plots for sale in Lahore has dropped PKR 10 per sq. ft, and it now stands at PKR 4,046. The average price of plots in all sizes has dropped making it a matter of concern for the investors. The price index of 5 marla plots for sale in DHA Lahore has decreased by 10.42 points and that is a huge drop.
If you are looking to make an investment in the real estate domain, houses are the best option that you should be considering. If you want to go for plots for sale in Lahore, Central Park Housing Scheme, Johar Town, and State Life Housing Society.
