2013-09-27 09:04:59 - Gulshan-e-Iqbal of Karachi, despite experiencing such a bumpy ride in the pricing trends during the current year, managed to retain its popularity. Especially, the apartments were the only genre of the residential property which attracted the most attention and Zameen discusses the pricing trends in the following report.
Housed between Gulberg and Gulistan-e-Johar with Liaqatabad at its south, Gulshan-e-Iqbal presents its residents with one of the most suitable and rather convenient location. Despite the variety of plots comprising on areas of 5 to 10 marlas and 1 to 4 kanals, an increasing investor interest was observed in the apartments by the property experts at Zameen.com.
In contrast to almost all the properties available, the apartments for sale at Gulshan-e-Iqbal registered the greatest investors’ footfall. Surprisingly the pricing trends were also perceived to be far from being uniform.
Noticing the spiking graphical readings of searching trends of the online property platform the experts at Zameen procured a special report concentrating on the pricing trends of the apartments comprising an area of
5 marlas, with respect to the popularity in the property search trends of the current year. Starting from January the average prices of the 5 marla properties listed were at PKR 3 million but as the days went by the prices increased to PKR 3.7 million in the end of Q1 of 2013. The month of April registered a sudden decrease where the average price fell to PKR 3,520,000 but the following month made up for it and prices escalated to PKR 5.3 million.
Keeping in mind the escalated number of crimes committed in the Q2 and Q3 of 2013 the prices experienced a sudden nose dive in the month of July and the prices staggered at PKR 3.5 million which was very disappointing for the investors as their properties experienced such devaluation. The prices further fell to PKR 2.99 million in August and the investors received another blow but fortunately the September seemed to revive the value from the ashes and brought it up to PKR 3.2 million.
It is a common fact that most of the population of Pakistan is rather poor, therefore finding an affordable house in due proximity to the offices is not everyone’s cup of tea. The employed therefore tend to secure a suitable apartment near their offices to reduce the fuel expense and in the process they tend to drag their families along as well.
Since Gulshan-e-Iqbal provides people with schools and markets within their access, it is therefore being excessively successful but the sudden drop in prices saddened the investors but at the same time it opened doors for more people who were interested in buying cheaper properties and in one way or another the community retained its popularity anyway.
For more information please visit: www.zameen.com
This press release is originally published on: blogs.thenewstribe.com/blog/69462/2013-sets-gulshan-e-iqbal-on-t ..