2013-09-06 10:13:10 - Karachi is ginormous - it’s like a huge pulsating mass throbbing with the kind of energy that is alien to any other city of Pakistan. It is as unfortunate as can be that our love of controversy and negativity blindsides us from focusing on the bright side of the picture, especially in Karachi. On any given day, news highlighting the adverse law and order situation in the city claims the lion’s share in print media.
The largest city of Pakistan, despite all of its problems, still plays host to some of Pakistan’s largest companies. Not only is Karachi the commercial, fashion, IT and business hub of Pakistan but it’s robust real estate sector has the potential of turning it into the true real estate hub of the country as well. The recent wave of unrest in the city forced many people to move to Rawalpindi, Islamabad and even Lahore which should have caused a blow to the value of property in Karachi but Zameen.com reckons that’s far from the truth.
The fact that the number of people moving into Karachi is far greater than a privileged few moving out means that Karachi is still popular city
to live. Because of Karachi’s ever increasing population, property prices have been on the rise in the city. Land is especially expensive which, in some posh areas of Karachi, could cost almost twice as much as Lahore’s top housing societies. This impressive trait of Karachi’s realty market often is ignored.
While the value of property in most of the areas in Karachi has consistently been snaking up the chart, DHA Karachi in particular has blown everyone away. Generally regarded as a considerably safer zone, DHA Karachi, much like Clifton, is home to the rich and famous of Karachi. The privileged life of the city’s elite in DHA Karachi is more secure as compared to the rest of the city given the fact that DHA is primarily a military controlled area.
This simple information explains why exactly the prices of property are on the rise in DHA Karachi but what of Gulshan-e-Iqbal Karachi where during the first half of 2013 the value of plots rose by 48.9%. Two quarters are a very short period of time for any housing locality to put such impressive numbers on the board. This goes to say that no matter how hard things get, Karachi does have the muscle to always be the business and real estate hub of Pakistan.
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