2013-09-04 14:33:54 - Johar Town rides high amongst the posh localities of Lahore. The research conducted by Zameen.com on Johar Town properties revealed that the average rental price of 10-Marla houses exhibited a growing trend. Following press release highlights the related facts.
Johar Town is accredited as one of high-end localities of Lahore. With its variety in plots cuttings, the community has experienced a massive footfall of residents on one hand and investors on the other. Zameen.com, a leading property portal of Pakistan, spots fluctuations in the sale and rental prices and the market movements in different localities of Pakistan. The property experts at Zameen.com observed that the rental prices in Johar Town Lahore exhibited an uptrend for 10 Marla houses for rent.
The average rental price was estimated to be Rs. 37,667 back in Januray 2011. However, this figure spiked to Rs. 39,000 in October 2011. This gave rise to an average rental price hike of 3.53% from January-October 2011. Later
in 2012, Zameen.com observed further hike in the rental figures. The rental price in Johar Town Lahore of 10-marla houses was noted to be Rs. 40,500 in February 2012. By the end of 2012, this figure was assessed to be Rs. 44,500 in November 2012.
As the real estate sector of Pakistan showed uptrends in the first-half of 2013 and so did the rental prices in Johar Town Lahore. Zameen.com’s research on the locality revealed that the average rent in February 2013 was Rs. 48,500 and this price tag surpassed the figure of Rs.50,000 by June 2013. These statistics show that the average rental price of 10-Marla houses in Johar Town Lahore spiked by 32.74% from 2011 till the mid of 2013. This rental hike, where on one hand is a factor of dismay for the tenants, has proved to be blossoming for the Landlords.
Zameen.com is observing immense hikes in the Pakistan real estate on the whole and shows its concerns over the recap of boom and bust cycle of the sector. Government needs to come forward to devise resilient legislation to back the sector for leading the real estate market towards growth.
For more information please visit: www.zameen.com
This press release is also published on PRLOG: www.prlog.org/12204703-average-rental-price-in-johar-town-lahore ..