Karachi Real Estate Market Saw A Massive Boom
Property prices in Karachi Real Estate Market, the country’s largest metropolitan city, have nearly doubled, making it difficult for people to buy property in the city.
The huge influx of people from various rural areas of the country in search of better living conditions has culminated in the rapid growth of slum areas throughout the city, resulting in a serious housing crisis.
As soon as life returned to normal after the pandemic, Karachi’s real estate market exploded moreover by 50 to 100 percent. Gulshan E Maymar, Quetta Town, Northern Bypass, Surjani Town, Scheme 33, Malir, and Jinnah Avenue Road are among the areas where significant real estate activity is taking place.
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Basic services such as sanitation, power, and gas supply saw a 100% increase in demand in these societies.
You cannot get a legally cleared 120-yard plot in a well-equipped society on Northern Bypass in less than Rs 1 million.
For more information have a look at Karachi real estate investment guide.
Karachi is Pakistan’s largest city and the world’s twelfth largest city. It is the capital of Sindh, a Pakistani province. Karachi, is Pakistan’s premier industrial and financial center, with a GDP of $164 billion (PPP) in 2019.
Karachi is a most cosmopolitan district, Firstly, with a diverse cultural, Secondly, racial, and religious population, as well as one of the country’s most secular and liberal cities.
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Karachi acts as a transportation center due to its position on the Arabian Sea. It is home to Pakistan’s two main seaports, the Port of Karachi and Port Bin Qasim. And also the country’s busiest airport, Jinnah International Airport.