Based on an ever-increasing urban sprawl, the megalopolis of Karachi is home to Pakistan’s largest real estate market. From posh localities to low-cost housing schemes, the metropolis offers a very interesting mix of properties. Since it is also Pakistan’s most expensive city to live in, investing in property with a tight budget could be an extremely tough call.
A majority of people prefer owning a house instead of renting one as it saves them from monthly rental expenditures. Plus, the property value in a city like Karachi significantly grows with time, which literally multiplies the initial investment of property owners.
So, if you are planning to buy a decent home for your family in Karachi within a limited budget, then we are here to help. In this blog, we are going to discuss everything you need to know about low-cost houses for sale in Karachi to help you come up with an informed decision.
How to Hunt for Low-cost Houses for Sale in Karachi
Here are a few important things you need before you start looking for low-priced houses for sale in Karachi
What Property Size Should You Be Looking for?
As you know, property prices have skyrocketed over the past few years in Karachi so a budget of PKR 50 lakh would only leave you with a few good property options. In such a limited budget, you may easily find 125 sq yd (5 marla) houses or even smaller properties. But, anything larger than that would probably go out of your budget.
Even a 125 sq yd house is cleverly planned these days, which will have ample space for you and your family to enjoy a comfortable life. Also, some societies in Karachi may also allow you to construct upper storeys if you are falling short on space. It is important to note here that properties near the city centre are extraordinarily expensive, which means you can only find affordable houses in Karachi in suburbs and far-off areas.
Where to Search for Low-priced Houses for Sale in Karachi?
If living in suburbs is not a big issue for you, then you can check out newly-developed societies like Bahria Town and DHA City to look for houses for sale in Karachi under a tight budget. You can even buy larger properties here, which are available on easy instalments. You can easily get possession of your new home after paying at least 50-70% of the total amount.
Most of these properties are available with up to 3 years instalment plans. On the other hand, you can also opt for home financing schemes offered by different commercial banks to invest in these houses. Their instalment plans can go up to 20 years, depending on your convenience.
As you can see in the picture above, low-priced houses available in these far-off societies in Karachi are very well-constructed. Most of these residential units are small-sized villas, offering you all the luxuries of a modern-day lifestyle. Prices of 125 sq yd houses in Bahria Town and DHA City can range anywhere from under 1 crore and goes all the way up to 3 crore.
Note: Don’t forget to check out listings of low-cost houses for sale in Karachi to fetch more details about the available property options.
Take Advantage of Government’s Markup Subsidy Scheme
With plenty of low-cost housing options and home financing schemes available, it has become easier than ever for you to go for property investment in Karachi. Even if you are short on cash to make full payments, you can apply for the ‘Apna Ghar Sasta Karz’ scheme, which was recently introduced by the government of Pakistan.
The State Bank of Pakistan has partnered with many commercial banks to successfully launch this scheme nationwide. It is also known as the ‘Mera Pakistan Mera Ghar’ scheme. You can easily get in touch with your nearest bank branch if you are interested to apply for this scheme.
Upcoming Housing Societies in Karachi to Keep An Eye Out for
While exploring property investment opportunities near Karachi Airport, you will come across another brand-new and up-and-coming housing project called Oasis Park Residencia. It is the best place to find villa-type homes available with highly convenient instalment plans. Investing in Oasis Park Residencia is a very affordable way to own an ultramodern home in one of the most sought-after localities in Karachi, which is also not that far away from the city centre.
We hope after reading this post, it will be easier for you to look for low-priced houses for sale in Karachi and make a smart investment choice, according to your budget and requirements. If you have any questions or feedback regarding real estate investment in Karachi, drop us an email at firstname.lastname@example.org. We’d be more than happy to assist you with your concerns.
On a side note, you may also like to take a look at our detailed real estate investment guide on the most popular areas with houses for sale in Karachi.
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