When we consider the market overall and condition of real estate Pakistan, as per latest reports, prices are maintained for some years. Experts and professionals believe that due to increasing allegations of corruption and economic conditions is main reason why foreign and local investor builds trust in real estate of Pakistan. However, real estate business also moving in slow situation however it varies in all cities, Lahore is considered much secured place and property rates in Lahore varies.
It is predicted that property rate in Lahore remain sluggish for another 3 months however it is proved wrong. The overall prices or rates of property in Lahore are increasing from start of this year. Especially some posh areas are DHA and Bahria town that is increased tremendously. As per report of express tribune, the prince of 1-cannal plot in DHA is risen-up to Rs. 3 million in month of July & August. You can book plot in posh and well-known sectors.
Let’s discuss about Karachi, as it is biggest city of lights that is certainly the hub due to value is also doubled because of shipping ports located here. Now, due to order conditions and poor law, corruption and unrest is also increasing. Survivals for family became tough and they migrate to peaceful cities for example, Lahore. The residence in Karachi has stated properties in Lahore, according to latest research it is also boosted to 30%. It is not only from Karachi city, the residents of Quetta and Peshawar is also migrating to Lahore due to some reasons.
Scope of Tax evasion
Some professional or experts thinks, Lahore market is regulated and it is great room for tax dodging. Some investors are also shifting assets to Lahore due to rates of property and to evade taxes from board of revenue. Now investors are trying to transfer their houses and plots to other people or relatives exist in Lahore. Don’t mention the property as personal assets and so remain relieved from tax. It is mobilizing assets or money in Lahore that is inching-up property rates (property rates in Lahore).
Lahore has different infrastructure and quality of life can be compared to different cities of Pakistan is better. Bahria Town and DHA (6 to 8) are few sectors that shows maximum rise in prices from last some years. It is due to some areas give modern lifestyle with amenities and high-quality infrastructure. It is because of posh sites or areas that are showing resistance to different factors posing threats to it. You can also consider some other societies such as Gulberg, model town, NFC society, UET Society, Wapda Town, Valencia and PU society offer magnificent laws, spacious houses and beauteous sets.
These societies are encouraging investors or marketers to look for property in Lahore. These factors or points combine to make an attractive for investors, people and real estate agents.
Now these points are shared by some resources for drop seen in price of property in Lahore. Brokers and agents quote percentage of drops as a buyer complain that a property is according to budget. Investor centric phase has recorded 3% of categories.