Islamabad’s real estate market hasn’t been inactive during the year 2018 so far. Some societies in Islamabad performed better than others. Investors picked the options that seemed to give them high returns in the short to medium term.
Which Societies took the lead?
Let’s look at how who grabbed the top positions in the Islamabad real estate market.
Defence Housing Authority (DHA) took the first position and continued its good run from January 2018 to July 2018. DHA is one of the largest housing schemes in the city and it has five phases.
On 2nd number we have Gulberg. This scheme has been popular among the buyers and investors and has caught a lot attention.
The 3rd rank went to Bahria Town and it retained this position from January 2018 till May 2018, after which B-17 outranked it and snatched the third position.
According to our sources, the Islamabad real estate market recorded growth in price of 5 marla and 10 marla residential plots whereas a controlled drop was witnessed in the price of 1 kanal plots during the first half of 2018.
5 marla plots
Prices of this plot size appreciated on average by 9% between January 2018 and July 2018. The rate of price appreciation increased from April 2018 onwards. The average price of 5 marla plot stood at PKR 5.87 million.
10 marla plots
This plot size had a fluctuating trend, where it recorded decent growth as well as drop in prices. The price of 10 marla plots in the city increased by a rate of 1.15% during the first half of 2018. The average price stood at PKR 7.13 million.
1 Kanal plots
This plot size was not that favorable as it recorded a gradual yet consistent fall in prices. The prices witnessed a drop of 0.83%. The average price of 1 kanal plot stood at PKR 17.23 million.
Experts opine that the high demand for small plots will continue as long as investment activity doesn’t pick up at large, involving bigger and more popular projects. In the meantime, trends seem promising and good vibes for investment ensures market activity will only increase in future.