Monthly Real Estate Market Report of Lahore in February 2018
Real Estate Market Report of Lahore
In Lahore, the market remained largely stable with no significant changes. The 1-kanal plots in all major localities remained stable for the most part, in accordance with the ongoing bearish trends in property. However, 10-marla plots in many societies experienced moderate growth, which shows that genuine buyers seeking to build their homes are the current major players in Lahore’s real estate.
Real Estate Market of DHA Phases I-VI
DHA Phases I-VI showcased stability for 1-kanal plots with a minor difference of 0.63%, and moderate growth of 1.79% in 10-marla plots. This can be attributed to the rising number of homes being constructed in Phases V and VI by genuine buyers, who veer more towards 10-marla plots than 1-kanal plots.
Real Estate Market of DHA Phases VII-IX
DHA Phases VII-IX showcased similar trends, with 1-kanal plots clinging to stability at 0.56%, and 10-marla plots going up by 1.25%. A significant amount of this rise is due to development work being undertaken in Phase IX, where prices are currently ideal for both investors and genuine buyers, and are expected to rise once the society takes shape.
Real Estate Market of Bahria Town Lahore
For Bahria Town, February showed mixed trends with a stability prevailing with a change of 0.20% for 1-kanal plots, and a moderate rise of 2.44% for 10-marla plots. Again, this indicates the significance of genuine buyers in the currently bearish market.
Real Estate Market of Bahria Orchard’s Lahore
Bahria Orchard’s 1-kanal plots were the only ones to experience a moderate drop of 1.34%, with its 10-marla plots remaining stable at a price fluctuation of 0.55%. However, the current prices are ideal for investors to resume their interest here, as these prices will go up once possession is handed within the next 15 months or so.
Real Estate Market of Wapda Town Lahore
In Wapda Town, prices remained stable for both 1-kanal and 10-marla plots. This is because the locality is largely saturated and there is little new activity here for prices to respond accordingly.
Real Estate Market of LDA Avenue I Lahore
LDA Avenue I remained stable, with the prices changing by 0.17% and 0.86% for 10-marla and 1-kanal plots, respectively. This society remained stable due to the homes already built and inhabited there, leading to a certain amount of activity by genuine buyers for the plots in the society not under litigation.
Overall, stability and moderate growth were the prevailing trends, continuing the bearish trend of the past few months, with steady improvement being seen as investors anticipate future returns once a clearer picture of the market is presented after the elections.