Property market to stay bullish in 2016

KARACHI: Pakistan’s property market is expected to depict bullish trends in the year 2016, according to a statement issued Friday by real estate website, Lamudi.pk.

Recent property value reports show that Pakistan’s major development companies like DHA and Bahria Town are doing well across the country. Property values are rising at staggering rates, from 13 percent year-on-year to a whopping 66 percent in some areas.

Dozens of Karachi neighbourhoods received a giant boost in property values as a result of the city’s improved security situation in 2015. The improvement is expected to further raise interest in property markets around the nation, by attracting foreign investors. Neighbourhoods in Lahore and Islamabad are already experiencing the benefit of increased stability in the nation’s largest city. Although these rising prices in the nation’s largest cities are a boon to property owners, they are a significant barrier to newcomers. As a result, new entrants to the market are attracted to emerging cities like Faisalabad, Gujranwala, Multan, and Gwadar.  According to the site, the port city of Gwadar is the most important investment location in 2016.