It was not until the mid-2000s that modern latest housing societies and high-rise apartments began to emerge in different parts of Pakistan. A vast number of people who had been living overseas for many decades moved back to Pakistan during this time because of various reasons that made a significant shift in the real estate market. As the demand went up, developers began coming up with new ideas to support the boom.
Pakistan’s Property Trends Introduced in the Last Ten Years
Well, if you reside in any of the major cities in Pakistan, you would be quite familiar with the underlying trends of demanded properties in Pakistan. Most of these features were recently organized, and they have, as it appears, considerably added to the progress of the country’s real estate market. Following are the latest property trends in Pakistan:
One of the famous property trends in Pakistan is exclusivity. A gated community is a housing estate having controlled and secured entrances. Such projects often have their own management that looks after sanitation, maintenance of facilities, and security. In terms of area, the size of these communities is not limited to any particular measurement. They are seldom spread across hundreds of square miles, while in other cases, they only cross up to a few square miles.
Karachi, the city of lights, has witnessed fast developments in its real estate market over the past two decades. As the population in Pakistan continued to grow at an unprecedented rate, vertical communities became all the rage in Pakistan, particularly Karachi.
High-rises can accommodate way more people than, let us say, single-story units. Mostly going from 10 to 40 floors, these significant residential buildings are located in almost every famous area of the city. Most of these structures now contain elevators along with standby generators for the comfort of occupants. Following in the footsteps of Karachi, other major cities of Pakistan like Lahore and Islamabad have also chosen a similar trend of constructing high-rise apartments with standby power backup and covered car parking. Al Ghurair Giga is building some significant high rise buildings in Islamabad in the popular area of DHA Phase II. These residential high rise projects will also include world-class amenities like rooftop swimming pool, rooftop gym, rooftop sitting areas with juice bars, mineral water supply, uninterrupted power backup, are to name a few facilities.
Luxury apartments have now become one of the most sought-after properties in Pakistan. Cities like Islamabad, Karachi, and Lahore, have several established and under-construction apartment projects that star luxurious facilities such as beautiful balconies, spacious floorings, ultramodern built cutting-edge facilities, and elevators with private entrances. All these peculiarities, of course, affect the price of an apartment. Location is also held as a critical factor when labeling a particular living space as a luxury apartment. Therefore, companies like Al Ghurair Giga meticulously select a prime location for constructing their residential high-rise luxurious projects.
When it comes to the latest property trends in the country, a blatant entry is studio apartments. Ideal for an individual, a studio apartment, also known as a studio flat, is a small unit that includes a bedroom, living room, and kitchen, usually without walls. These sorts of apartments are often found in major Pakistani cities where people come in search of better job opportunities. This trend has also picked up the pace and popularity in recent years. Studio apartments are often considered ideal for renting purposes, so if someone has a studio apartment, they are likely to find more people interested in occupying their property on a rental basis rather than purchasing it.
Pakistan’s real estate sector is embracing new developments every year; though, that does not mean developers are leaving conventional housing solely. Each newly incorporated property trend simply adds to the existing system. The market based on properties in Pakistan is growing, thereby giving more diversity in options to prospective customers.