Years of income required to buy a home in Top Pakistani cities
Pakistan Real Estate sector is once again booming. We are seeing gradual rise in house prices across Pakistan. This article calculates the number of years required by the people on average salary (300,000 PAK Rupees per year) to buy a home in top 10 cities of Pakistan. The average home price in each city is divided by the 300,000 PAK Rupees to calculate the number of years. This article also clearly shows how unaffordable housing market is in the top cities of Pakistan, as people on average salary cannot afford to buy a home in these cities.
Karachi
Average house price in Karachi = 23,000,000 PKR Rupees
Years of income required to buy a home in Karachi = 76.6 years
Lahore
Average house price in Lahore = 16,000,000 PKR Rupees
Years of income required to buy a home in Lahore = 53.3 years
Islamabad
Average house price in Islamabad = 15,000,000 PKR Rupees
Years of income required to buy a home in Islamabad = 50 years
Rawalpindi
Average house price in Rawalpindi = 14,000,000 PKR Rupees
Years of income required to buy a home in Rawalpindi = 46.6 years
Faisalabad
Average house price in Faisalabad = 13,000,000 PKR Rupees
Years of income required to buy a home in Faisalabad = 43.3 years
Hyderabad
Average house price in Hyderabad = 12,000,000 PKR Rupees
Years of income required to buy a home in Hyderabad = 40 years
Peshawar
Average house price in Peshawar = 10,000,000 PKR Rupees
Years of income required to buy a home in Peshawar = 33.3 years
Gujranwala
Average house price in Gujranwala = 9,500,000 PKR Rupees
Years of income required to buy a home in Gujranwala = 31.6 years
Sialkot
Average house price in Sialkot = 9,000,000 PKR Rupees
Years of income required to buy a home in Sialkot = 30 years
Multan
Average house price in Multan = 8,500,000 PKR Rupees
Years of income required to buy a home in Multan = 28.3 years