Housing societies which are likely to become famous in 2011
Housing societies which are likely to become famous in 2011
Few years back the Pakistan property market was badly hit by the greatest property slump. That slump caused losses of millions to infinite number people because at that time property in Pakistan was at boom and every one was investing in different property sectors. After the slump in property market the Pakistan also went through other different problems and catastrophes like earth quake of 2005, war on terrorism, electricity shortage and the great devastating flood of 2010. All the catastrophes combined took Pakistan almost back to Stone Age. Now gradually Pakistan's economy is stabilising itself to much extant. After many years of property slump the Pakistan real estate sector is again turning the tide and the New Year 2011 seems to be a promising one.
The development in different Pakistan property sectors throughout Pakistan is started again. Both residential and commercial areas are facing development. Although the development is quite slow but it is better than before as new foreign and local investors are looking towards Pakistani soil as a rich source of investment. Various mega projects are currently under construction like Lahore Expo Centre which has 60 storeys, Lahore towers 1 and 2 which have 60 and 45 storeys respectively, Lahore Alamgir Tower 31 storey high and Islamabad Goldcrest 28 storey high. Besides this there are many other towers and buildings which are approved and proposed like Lahore LDA tower, Islamabad Centaurus, Karachi Avari Extension, Karachi IT tower, Islamabad Grand Hyatt etc. Aside from these commercial projects there are many residential projects which are expected to gain popularity in 2011. Among these residential housing societies is DHA phase 9, 10, Divine Garden, Gawadar City etc.
Nowadays in Pakistan like in many other nations the trend of villa living is increasing day by day. This increasing trend is not merely the outcome of number of buyers with good purchasing power but also due to the need of families who are looking to live in world class communities.
Considering the state of the market many people think that it is the good time to invest in Pakistan Real Estate because now rates are quite low and have started to rise gradually. There are many real estate agents and firms that are busy buying projects that are going to take years to complete. Besides there are also numerous housing societies that are being constructed in Islamabad, Karachi, Peshawar, Lahore real estate market etc. Most of the societies are being targeted at the upper end of the market with prices in hundred-thousand ranges. The speculation suggests that there will be many popular societies in Pakistan in 2011 and in 2012.
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