| Why Properties in Major Cities of Pakistan Are Priced So High?|
|If you look at property prices across different cities of Pakistan, you will come to know that there is a huge contrast. You can buy a good house in a small and less developed city at a price in which you and your seller will be quite happy but if you intend to purchase the same house at a same price in the major cities of Pakistan, you will never find it. At this moment of time, prices and properties in Lahore are so high that no middle classman can afford them due to low purchasing power.|
Prices of Karachi, Lahore and Islamabad properties are very high and these cities are among the top three high priced cities of Pakistan with respect to cost of living. Properties of Karachi are at that moment low as compared to Lahore and Islamabad properties due to increased corruption and target killing but still very high as compared to the less developed and small cities of Pakistan. Why it is so? The reasons behind it are many which are discussed below.
1. First of all, Pakistan properties in major cities of Pakistan are expensive because the employment opportunities here are higher. Large number of valuable jobs is available only in these cities. In order to exploit these opportunities, many people come and settle there. This influx of the people in these cities raises the cost of properties. Though government is trying to ease out Pakistan real estate sector by the uniform development of properties in all the cities and banks are also opening branches in minor cities to generate employment opportunities there but still the prices make a good difference.
2. Secondly, the desire for a peaceful life full of amenities and facilities is built in the nature of every human. Life in major cities as compared to that in small cities is luxurious and peaceful. Provision of the latest facilities and amenities like electricity, natural gas, water and internet are easily available as compared to the small cities. Moreover, educational institutes, hospitals and universities are many and are equipped with the latest techniques. The increased demand of Pakistan real estate in these cities has derived the prices of properties up.
3. Thirdly, Lahore, Islamabad, Karachi and Muree, which are the top high priced living areas in Pakistan are known for their individuality and own distinctive attractions. These unique features have made them standout of the rest. Lahore is a city rich in historical places. Karachi is the hub of business activities due having ports and many sea sides in it. Islamabad is the capital of the country and is known for its peaceful environment whereas Muree is a beauteous tourist location with beautiful climate and sceneries in it. These individual distinct features make them unique and the cost of living in them is high due to these distinctions.
Though property regulators are trying to enhance the performance of properties located throughout Pakistan, yet it will take some time before which this uniformity in property prices can be expected.
William King is the director of Pakistan Properties, Properties in Lahore and Pakistan Real Estate. He has 18 years of experience in the marketing and trading industries and has been helping retailers and startups with their product sourcing, promotion, marketing and supply chain requirements.