Pakistan’s real estate market turns bearish in 2017

KARACHI: The local residential real estate market has had an uneventful year in 2017, as Karachi property market (mature properties/built up) has remained more or less flat and is down 10-15 percent from the peak seen during the first half of the year.

“DHA City and Bahria Town, however, tell a different story. In DHA City, prices are down year to date and have fallen 25-35 percent from their peak. Similar is true for Bahria Town, where prices are down year to date and are down 10-15 percent from their peak seen earlier in the year,” an analyst at Topline Securities said.

The Lahore residential real estate market has reportedly remained flat while property prices in Islamabad after remaining flat during the first half came down by 8-10 percent in second half of the year 2017.

On average property prices remained flat during the year amid ban on construction of high rise building in Karachi and revision in property valuation that was initiated last year

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