Pakistan’s Real Estate Market Trends in 2018

The year 2018 was not an especially lucrative one for the real estate sector, primarily due to the economic downturn, as a result of which Pakistan real estate market transaction decreased significantly.

Here are a few trends that emerged in 2018:

Residential Real Estate Investment Trends

• The prices of houses increased by up to 10%; rentals remained the same when compared to 2017.
• The prices of, and demand for, plots increased by 5 to 15%, particularly in Punjab real estate, where the sales of one-acre plots increased by 8-10%.
• Apartment related real estate market decreased by 10 to 15%; their prices decreased by 12 to 18%.
• The demand for affordable property within gated communities increased by up to 20% and their availability went up by 10%.
• Investments in plots and house on the outskirts of metropolitan cities within gated communities increased by 15 to 20%.
• Foreign real estate investments made by overseas Pakistanis decreased by 10 to 12%.
• Areas that attracted most investment include DHA (Bahawalpur), DHA (Islamabad), Bahria Town (Karachi) and Phases VI and IX, DHA (Lahore).

Residential Real Estate Investment Trends

• Property prices increased by up to 10%; rentals remained the same.
• Foreign real estate investment in Pakistan market increased by 20%
• The demand for multi-purpose commercial buildings (which consist of retail and office space) increased by 10 to 15%.
• Investment in property along the China Pakistan Economic Corridor (CPEC) increased by 5 to 10%.
• Popular real estate investment destinations included areas on the outskirts of cities such as Gwadar, Islamabad, Karachi, and Lahore. Key commercial areas that attracted investment included Jinnah Supper (Islamabad), Clifton and Shahrah-e-Faisal (Karachi) and Gulberg (Lahore).

Other Real Estate Investment Trends Include:

• The demand for, and value of, agricultural land increased by 10 to 15%
• Construction costs increased by 15 to 18%.

A city by The Sea: Commercial City

Dolmen City is an up and coming commercial projects in Karachi and is attracting investment from across Pakistan. One of the first commercial complexes to open on the Clifton coastline, Dolmen City is located in proximity to upscale restaurants, art galleries, exclusive schools and some of Karachi's largest public parks.

The Harbour Front and Executive tower have been functioning for quite some time and primarily comprise outlets serving as office spaces, where several national and multinational companies have a presence. A shopping mall has opened recent;ly.
Currently, Dolmen city comprises:
1. The Harbour Front comprises 19 floors, each with a covered area of 14,500 square feet. The harbor Front provides faculties including security, fire alarms, a sprinkler system, a centralist mail room and cargo delivery area, as well as car parking. The occupancy rate stands at 60%.
2. The Executive Tower comprises 17 floors, each with a covered area of 11,700 square feet. Facilities include reserved ca parking. The occupancy rate is 85%.
3. The Mall: With a floor of 1,000,000 square feet outlets. Currently, the Mall's main attraction is the presence of an international hypermarket chain. Plans are underway for a food court, restaurants, coffee shops and recreational facilities. Facilities include basement and ground level parking, as well as security.

Building PR In Real Estate:Real Estate Pakistan

Most real estate agencies lose business due to one basic reason: they do not bother to call clients, once the deal is completed. Nor do they maintain a database of those clients with whom deals could not be completed and a result lose out on an opportunity to maintain goodwill in the market. The fact of the matter is that real estate agencies are more earned inclined to earn revenues rather then build credibility and do not bother to allocate a separate budget properly put together a list of clientele.
Here are few tips that can make real estate agencies more effective in building PR:
1) Develop a comprehensive website of a real estate agency describing the areas of expertise.
2) Send E-mails to prospective clients, describing the salient features of the properties from inventory list.
3) participate in events and program that can give maximum exposure to your real estate agency.
4) Develop a working relationship with people who have authority and can take decision to buy, sell or rent properties. Be proactive and send them relevant news and articles from time to time.
5) Publish articles online to your position your agency as a leader in the field.
6) Find out what kind of properties your target audience is searching for on the internet.
7) Conduct real estate seminars to spread information among property buyers and sellers. If the seminar become popular, invite the local media to attend for print and electronic coverage.
PR can strengthen your real estate marketing program with credibility and targeted exposure for the fraction of the cost of traditional advertising, but it requires patience and persistent. Remember that although real estate PR takes time and effort, the results end up in financial gains.