Pakistan is now home to some of the fastest and most rapidly growing property markets in the world. Many of the country’s major cities have now turned into hotbeds of property investments. Following the footsteps of other developed countries, Pakistan is working on strategies to adopt sustainable infrastructure models in its key metropolitan areas to prevent sprawling.
Prime Minister Imran Khan’s vision of vertical cities is absolutely in line with the sustainable development strategies. It emphasises the need for intelligently planned high-rise developments to make the most optimal use of the available land in a crowded city, preserving the natural environment in its surroundings.
All these developments have triggered a major real estate investment shift from plots to high-rises and other sustainable housing projects, paving the way for new and well-planned property trends that are going to modernise the cities we live in.
In this post, we are going to list down and discuss the most popular real estate trends in Pakistan that have also been approved and warmly welcomed by the investors and stakeholders of the industry.
Top Real Estate Trends in Pakistan in 2021
From high-rise developments to gated communities; here are the top property trends in Pakistan to look out for in 2021.
- High-rise Buildings
- Mixed-use Developments
- Gated Communities
- Low-cost Housing Scheme
If you want to take an up-close look at some of the tallest buildings in Pakistan, you need to head over to the country’s largest city, Karachi. It is a coastal metropolis that has recently transformed into a concrete jungle, where almost every other apartment project is now a 20- or 30-storey building. It is also home to Bahria Icon Tower—Pakistan’s tallest skyscraper that has 62 floors and a height of 273 metres.
Since development authorities in Karachi, Lahore, and Islamabad—Pakistan’s three most economically active cities—now allow high-rise construction, the skylines of these metropolises are rapidly transforming. The Lahore Development Authority (LDA) issued new guidelines favouring the construction of high-rises in the urban centres. It was followed by another major development when Rawalpindi Development Authority (RDA) issued similar amendments for its jurisdiction.
The city centres of these cities are now capable of providing housing to more people than ever before. It is because of these developments that a posh commercial and business centre in Lahore like Gulberg is drawing the attention of investors from all over the country. Another very prominent factor behind the growing popularity of high-rise buildings is that a majority of millennials in Pakistan prefer living in apartments. It is because apartments are cheaper than houses and also far easier to maintain, which naturally makes them a more attractive option.
An increase in high-rise construction has also benefited the construction and development sector. People who deal in raw materials are getting more business and labourers, architects and engineers are getting new employment opportunities. The property sector of Pakistan is also gearing up for the development of skyscrapers. Buildings crossing the height of 150 metres require ingenious construction and design solutions.
As discussed, Karachi’s skyline is dotted with many high-rise buildings and it is the very first city of Pakistan to host multiple completed and under-construction skyscrapers. To learn more about some of the tallest residential and corporate towers in Karachi, read our detailed blog on them.
The concept of mixed-use construction has also been one of the most famous real estate trends in Pakistan in recent years. As the name suggests, it is a type of real estate development that hosts intelligently planned commercial, residential, and sometimes even corporate complexes under one roof.
Mixed-use complexes are usually found in vast and bustling urban centres of major metropolitan areas in the country. Another very prominent reason behind the immense popularity of this property trend in Pakistan is the availability of indoor facilities and a secure environment.
Lahore, which is the second-largest city in Pakistan, has become a hotspot for mixed-use construction. As of now, there are dozens of mixed-use buildings under construction in the city. To get more information on the best mixed-use projects in Lahore, read this blog.
Making the best and most intelligent use of the concept of mixed-use construction, Zameen Developments has launched a groundbreaking project in the capital city of Pakistan by the name of Zameen Ace Mall. Located at an ideal location of DHA Phase 2, it has become the most awaited project in Islamabad.
The construction of a large-scale project like Zameen Ace Mall is a strong indicator of the fact that the concept of mixed-use development has become one of the most promising property trends in Pakistan that will help us work on sustainable urbanism for the future of our cities.
Along with high-rise apartments and mixed-use developments, the concept of gated residential communities is also thriving in Pakistan. Housing projects of Bahria Town in different parts of the country have converted the deserted suburbs of some of the major cities into serene yet ultramodern residential settlements. It won’t be wrong to say that Bahria Towns in Karachi, Lahore, and Islamabad have (to some extent) laid the foundation of an ultramodern gated community living in Pakistan.
Keeping in view the increasing popularity of the concept of gated housing societies in the country, many investors and stakeholders have now shifted their focus towards this new and rapidly emerging property trend. Etihad Town in Lahore and Etihad Garden in Rahim Yar Khan are two of the finest examples in this regard. Like other large-scale housing developments in the country, these up-and-coming projects have also been equipped with all modern-day facilities and amenities. They are envisioned to offer you all the pros of living in a gated community.
Owing to the immense population growth in recent years, Pakistan is now home to some of the most populous cities in the world. This has created a serious imbalance in the demand and supply of housing units in the country. In order to tackle the housing shortage, the government of Pakistan under the leadership of Prime Minister Imran Khan launched Naya Pakistan Housing Project (NPHP).
This government-funded affordable housing project has been launched nationwide. It aims to construct five million housing units and mostly targets people belonging to labour class, lower-middle-class, and middle-class families. Along with addressing the shortfall of housing units in the country, there are other many economical benefits of affordable housing schemes, read this blog to learn all about them.
Another very important development in this regard is the introduction of prefabricated homes. Also known as modular houses, these residential units are constructed in factories and are then transferred to their actual site. Pakistan has also launched a prefabricated housing plant recently, which will build housing units for NPHP.
“We are working on using prefabricated housing technology which has met quality standards and, apart from this, international contractors from China, Turkey, Qatar, and Saudi Arabia are also showing interest because we need large scale manufacturers who will use the latest technologies to build houses in a short time,” said Mr. Zaigham Mehmood Rizvi to express his views on prefabricated houses while talking to Zameen Interviews.
Note: To learn about all the latest updates on Naya Pakistan Housing Project (NPHP), take a look at our detailed blog on this grand-scale development.
Now that we have rounded up all the latest real estate trends in Pakistan, it’s time for us to wrap up. We hope this post has provided you with all the useful information on the subject. So, how do you think the aforementioned property trends in Pakistan will impact the national real estate sector? Share your thoughts with us by emailing us at firstname.lastname@example.org.
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