Are you worried about your investment in apartments? The answer to this question is straightforward: if you want a short-term investment in the real estate market OR to buy a rental property, then an apartment can be an excellent option for you as it is easy to maintain and offers a high return on investment.
Apartments have always been a good investment. Over the last few years, the popularity of apartment projects in Pakistan has seen significant growth. In a world where people once preferred to live in separate, detached houses, many families now choose to live in high-rise apartment buildings. Due to the shift in building trends from plots to high altitudes, builders and developers have had to turn their attention away from focusing on sustainable development to meet the growing demand for housing units in populated areas.
So, if you are entering the real estate market or looking for investment advice, we have compiled a list of reasons to invest in apartment projects that will be helpful for you to make a perfect decision.
Or, before we get started, check out our guide to the different types of flats in Pakistan to better understand your investment options. While apartments with one bed, two beds, and three bedrooms are considered the most popular options, studio apartments, and living rooms are also needed in major cities such as Islamabad, Lahore, and Karachi, among others.
THE GROWING DEMAND FOR APARTMENTS IN PAKISTAN
In the Islamabad Capital Territory, demand for apartments among potential buyers has grown from 15% to 17% over the past two years. Likewise, the search for flats in Punjab increased from 15% to 17% between 2018 and 2020. In Sindh, the popularity of apartments has increased from 23% to 25% during this period, while demand for flats in Khyber Pakhtunkhwa has risen from 17% to 19%.
It’s essential to know the demand for plots has declined in the last two years, and the popularity of housing has also seen a slight increase.
The main reason for the popularity of housing projects in Pakistan may be rapid urbanization. People move to big cities for better education and job opportunities, and the need for housing in urban areas has dramatically increased. In addition, the shortage of land in major cities has led to a rise in prices, prompting investors to buy apartments instead of plots. As the government also imposes restrictions on the specific expansion of certain cities to prevent urban sprawl, the need for more development in Pakistan continues to intensify.
It is also worth mentioning that living in an apartment has been very popular for thousands of years. This is because these accommodations are easier to maintain, less expensive than traditional houses, and often more secure, making them ideal accommodations for medium-sized families and professionals with youngers.
We have looked over the popularity of apartments in Pakistan now we are going to study some of the reasons for investing in housing projects in Pakistan.
WHY SHOULD WE INVEST IN APARTMENTS?
Some of the main reasons for investing in apartments are listed below:
- Consistent Source of Profit
- Easy Maintenance
- Rapid Development
- Saleability Factor
CONSISTENT SOURCE OF PROFIT
Investing in apartments can be a reliable source of income without any hassle.
Are you a young investor looking to buy your first rental property, or are you an experienced investor planning to expand your portfolio? Then, it would be best if you considered investing in modern apartment projects that can provide an excellent rental income.
Advanced features include concierge and valet service, high-speed elevators, covered parking area, high-security safety system, advanced fire safety, and emergency systems, roof gardens and recreation area, and indoor gyms.
Due to rapid urbanization, experts believe the demand for apartments will increase in the coming years.
EASY TO KEEP
Apartments are simpler to maintain as compared to houses.
Almost all apartments have their controls for project maintenance. As a result, they are not only responsible for shared resources and services but are also responsible for repairing leaking pipes, overhead wires, and water damage.
The building owners have all maintenance services, so don’t worry about fixing minor issues that will inevitably arise over the years. Instead, the project manager will likely take care of such things for a small monthly or annual fee.
BUILDING PROPERTY DOES NOT TAKE LONG
If you buy a piece of land, it may take years to develop it. Due to the various design sites and NOC-related problems can take years for areas to be identified. Therefore, even if you inherit within a few years, obtaining approved designs and completing the construction of your house can take a long time.
Moreover, apartment projects are usually developed in a short time. Also, the property is generally delivered within two to 3 years of the project launch. It is also crucial to note that apartments are inexpensive and can be purchased in installments. In addition, apartment projects are located in densely populated areas near city centers.
EASY TO SELL
Finally, one of the primary reasons for investing in housing projects in Pakistan is their selling.
Apartments are more accessible to sell due to their increased demand – especially if they are available in a popular location. Meanwhile, luxury apartments tend to stay away from the hustle and bustle of the city. However, they remain well connected to large residential and commercial areas with a vast network of roads, making them easily accessible.
In addition, rising rents also positively affect the number of apartments, which can be respected over time depending on their location and status.
But, investing in an apartment can be a good decision if you are looking for short-term investment options.
This ends our analysis of the reasons for investing in housing projects in Pakistan. If you are still wondering why you should invest in real estate, send your question to us for a timely response.
PORTFOLIO IN LESS TIME
High Rise Buildings are reasonable for investors who wish to have a huge portfolio of rental units. Like, managing and acquiring 20-high rise apartments are significantly simpler and considerably more time effective than buying 20 different single-family homes. With the last choice, an investor would have to haggle with 20 unique dealers, direct reviews on 20 houses situated in various regions, and open 20 separate advances for every property. To stay away from this headache, investors buy one property with 20 units.
Unlike the stock exchange, the land is a very rare example of an enterprise that will furnish you with a significant actual resource. Each land you will purchase or put resources into along construction will have worth accomplishing all your wealth. The pay that your property can deliver will also have an incentive for future real estate agents. There is no red or green sign in this area.
Truth: “As per the Forbes 400 file, 90% of the world’s most affluent individuals have made or held their abundance through great, pay-to-create land, similar to apartment networks. The super affluent hold land long haul since they realize that is the manner by which to safeguard their abundance.”
If you are looking for drawing a strong association to wealth, an opportunity is now sitting tight for you with a proven record and long-term equation to assist you with succeeding the most. Also, in particular, just with the right land information, anybody can succeed at this and make sensational profits for future and family objectives.
With courage, data, and guts, we accept that anybody can accomplish the performance battle of finishing deals in a positive way. Despite the fact that if you expect to contribute alone with next to no external assistance, make certain to have in prescience the right execution plan.