LAHORE: With Election 2013 coming to an end and deciding the country’s fate for the next 5 years, Pakistan real estate too is shaking off its effect and getting back on track. DHA Lahore is also finding its way out of the slight dip it experienced in transactions during the Election 2013 and is now headed towards registering new heights.
Just as the dust of General Election 2013 settles, Pakistan’s property market once again prepares to meet the demand of local as well as international investors. Even though, Defence Housing Authority, which is the most important and happening locality of Lahore, experienced relatively less noticeable effects of the election, the fact remains that sale purchase activity here too was brought to a halt just before, during and a few days after the election.
Zameen, the leading real estate portal of Pakistan, shares its valuable stats with the readers in order to help them make a more informed property buying/selling decision. The portal notes that the effects of Election 2013 started to surface in Q1 2013 because that was when the rates of property in DHA Lahore started to experience a somewhat sluggish trend. As compared to the average price hike of 6.5% recorded in Q4 2012, the property rate in DHA Lahore increased only 3.39% in Q1 2013. The rise in value of DHA property was the lowest for 1-kanal and the highest for 2 kanal plots for sale.
According to the estate agents dealing in property in DHA Lahore, the less prominent spike in property rates of DHA Lahore didn’t matter much as there hardly was any activity in the market. This also implies the fact that the slowing down of the sale price hike of DHA plots and houses was more because of the lack of sale purchase activity in the market than any other reason.
The property experts and analysts at Zameen believe that since DHA Lahore is the best investment option among those looking to buy or invest in homes in Pakistan, as the value of property here will pick up more aggressively in second and third quarter of the year. With a 2.65% rise in property value right after the elections, Zameen’s stats also support such claims. All of this points towards the fact that property and plots in DHA Lahore seem all set to remain the top investment choice among local and overseas investors in 2013 as well.
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