How much does property cost in Pakistan

1. How much does property cost in Pakistan? There is no strict bracket via which one can define the worth of property in Pakistan. A 5 Marla in prominent housing societies such as Park View City Lahore, Nova City Islamabad can cost multiple folds more than a 5 Kanal plot located in the suburbs of the city with no facilities. Multiple factors are impacting the worth of property. With that inflation level and economic conditions also keep increasing/decreasing the price of real estate. Some factors that influence the property cost in Pakistan are: ● Economic conditions: That’s the factor that impacts real estate prices the most. For example, the current increase in the worth of dollars, devaluation of the rupee, and hike in petrol prices increased the prices of cement, steel, bricks, concrete, and all sorts of materials used in construction. The hefty price spike increases the cost of construction leading to the increase in the sale price of the commercial or residential property. ● Location: The greater the ease of accessibility, the greater the demand for that plot. Locational characteristics are the prime factor in determining the worth of a real estate. These characteristics include the spot where the property is located, access to the road network, closeness to the commercial hubs i.e. markets, topography, living conditions in the area, and availability of amenities. ● NOC or legal status of the property: For housing societies, NOC is the most important permission. Societies with no NOC are straight-up illegal and legislative authority can ban that project at any time. As soon as society gets its NOC, prices of properties rise. ● Facilities: The availability of facilities decides the living standard of an area. Properties cost more in areas with basic amenities such as sanitation facilities, security facilities and systems, electricity, water, educational facilities, green spaces, medical facilities, recreational centers, mobile networks, shopping areas, drainage, and sewer lines. Park View Society Lahore, Nova City Islamabad are some of the societies that are ensuring all these and several additional facilities for the residents. ● Investors' interest: Obviously, if more people are interested in a house or a plot, its price rises. If there are no buyers of some property in the market, the price of that property will increase automatically. Final Words No one can determine the exact price of the property in Pakistan but if you want to know the prices of the plots in prominent societies of Pakistan or have some specific queries such as Park View Villas Lahore map, Nova City payment plan, Deal and Deals offer free consultations.