2015 is a better year for Karachi real estate sector
Karachi is the most populated city of Pakistan and second most populated city of the world. Karachi’s population is approximately 25 million. Karachi is also the financial center of Pakistan, as Port Qasim and Karachi Port are located there. Karachi’s GPD is more than $150 billion in term of PPP. People from different parts of Pakistan aspire to live in Karachi due to good employment opportunities and better educational, medical & recreational facilities.
Karachi real estate sector from 2011-2014
Karachi real estate sector was booming from 2000-2010, but Karachi real estate sector saw marked decline from 2011 to 2014. This decline was due to the law and order situation in Karachi. Businesses also suffered due to security concerns and people shifted from Karachi to Lahore and Islamabad. That time saw huge rise in real estate activities in Lahore and Islamabad, but real estate activities declined in Karachi.
Karachi real estate sector in 2015
Karachi real estate sector is booming in 2015. This real estate boom in Karachi is due to better law & order situation and flourishing businesses. In 2015, Property prices have increased by more than 20% in Karachi. People of Karachi are very hopeful for the better days ahead. According to Karachiites, property prices were constantly declining in Karachi due to security concerns. Business activities were low and people were leaving Karachi. People were just selling properties to settle down in other cities. This ultimately resulted in more property sellers than property buyers and property prices crashed in Karachi. Due to better law and order situation in Karachi, people are moving back and buying properties. This trend is increasing the real estate activities and property prices are on rise in Karachi. 2015 is indeed a great year for Karachi real estate sector and we hope for better days ahead.