2012-11-30 12:22:58 - The data released by Zameen, Pakistan’s largest real estate portal, highlights a constant and significant rise in the average per marla prices of Wapda Town residential plots in Q3. A slight fall was observed in the month of August.
Wapda Town Lahore is regarded as one of the most popular posh residential communities in Lahore. According to the data released by www.zameen.com/, it is gradually becoming one of the most sought-after residential real estate investment spots in Lahore. As compared to other investment spots in Lahore, Wapda Town is known to be a favourable investment spot in Lahore for all the investors looking for safe and stable returns on investment in the long run. The high demand of residential plots directly leads to an increase in sale prices of plots in Wapda Town.
Zameen’s data reveals an outclass performance of residential plots as compared to finished homes and commercial properties available in Lahore Wapda Town during Q3 of
2012. A significant rise in average per sq ft prices of Wapda Town residential plots was recorded as compared to the previous quarter. In July, the average per sq ft price for residential plot was Rs 3,931, which was significantly higher as compared to June prices.
The holy month of Ramadan was observed in August this year that considerably slowed down the activity in Lahore real estate market. The effect can be confirmed from the drop in per sq ft prices of residential plots in Wapda Town, which decreased to Rs 3,623. Though the fall is not so notable as far as the per sq ft prices go but for kanals of land, it makes a quite a sum that can make investors think before selling their land for less.
The result of fluctuation in per sq ft prices can also be observed in the form of inconsistent per marla prices of residential plots. In July, www.zameen.com/
recorded Rs 884,483, as the average per marla price of residential plots in Wapda Town that was higher than the previous quarter prices. The average per marla price dropped to Rs 815,185 due to slow real estate activity in Ramadan. It is generally observed that Ramadan impedes or slows down the general day to day activity in all business sectors. However, after Ramadan both buyers and sellers were noticed to be in full swing, as a sudden rise in the activity, average per sq ft and per marla prices was noticed.
Right after Ramadan, a robust activity was noticed in overall Lahore real estate sector and the impact can be seen in the form of rising prices of residential plots in Wapda Town. www.zameen.com/
recorded that the average per sq ft price of residential plots increased to Rs 4,141 whereas the per marla price also showed a spike at Rs 931,667. The increase in average per square foot prices and average per marla prices of residential plots in Wapda Town indicates a prosperous future for investors looking for investment choices in Lahore real estate.