2013-10-31 07:15:30 - The reduced activity observed in Pakistan real estate sector towards the end of the year convinces the sellers and investors to hold their bids for the time being. The combined effect of this practice brings the property rates down throughout the country as well as reduces the rate of price hike seen in certain localities.
From the last various years, it has been observed extensively that the buyers and property investors become passive towards the end of he year, causing a drop in the number of property transactions registered in the later quarters. With reduced demand, the property rates automatically start to deflate, preparing room for registering further hikes in the coming year. However, for Q3 2013, Zameen.com observes interesting results for Lahore, Islamabad and Karachi real estate sector. The drop in activity in the property market during Q3 was considerably less than that recorded in the third quarter of 2012.
It was surprising to note that the rising interest of local and international investors in Islamabad property market kept the plot prices from falling
in Q3 in areas like DHAI and Gulberg Islamabad. The reduced sale purchase activity only brought down the rate of price hike. In Q3, property rates here did not drop beyond the rates recorded in the earlier months. In fact, for 5 Marla and 1 Kanal residential plots, a price hike of 10% and 4% respectively was noticed in Q3. Value of 10 Marla residential plots in Islamabad remained almost the same throughout these 3 months of Q3 and closed at average price of Rs. 6,200,000.
Zameen.com’s findings for Lahore real estate sector during Q3 have surprised the property analysts at the portal because instead of experiencing a drop, the average rate of residential property in Lahore has increased by 14.81%. For 5 Marla residential plots in the city, the price hike in Q3 was noted to be 15% and that for 10 Marla and 1 Kanal plot was 16.22% and 14.20% respectively. Q3 stats for Property market of Karachi, however, show a different story as rate of 10 Marla and 1 Kanal plots here dropped by 4.30% and 2.35% respectively. With 5 Marla plots growing by 7.60%, the overall results for Karachi property market depicted a marginal rise of 0.32%.
Investors’ rising interest in securing their money in Pakistan real estate sector has started to change the existing trends and Zameen.com is documenting this change for its widening clientele.
For more information please visit: www.zameen.com
This press release is originally published on: www.allvoices.com/contributed-news/15857751-comparative-analysis ..