Lahore is perhaps the most important city of Punjab, which makes it the first choice for many people seeking better employment opportunities and a decent lifestyle. Rapid urbanisation that seems to have been underway for the last two decades has called for the expansion of the city, whose borders now extend to Kala Shah Kaku in the north, Raiwind in the south, Multan Road in the west, and Barki in the East. Lahore has virtually taken up all the land in its previously bare outskirts, which are now home to hundreds of thousands in newly built housing projects.
The rising demand for property for rent in Lahore
has been addressed by many new real estate developments launched in the southern parts of the city. Once considered to be located too far from the city centre and missing a direct access route, these housing societies eventually became today’s expensive Johar Town, WAPDA Town and a host of other neighbourhoods that are very popular among renters.
The city’s expansion also brought in new real estate developers, who offered a wide range of projects due to increasing competition in the market. For a large number of people who choose to live in Lahore because of the security it offers, upscale areas such as DHA Lahore, Lahore Cantt and Askari offer some of the best properties for rent in Lahore. Because of better demand, properties for rent in DHA Lahore
remain the most searched ones on Zameen.com.
The continuous expansion of Askari Housing projects in the city and their safe and gated premises also offer some of the best Lahore real estate for rent
to potential tenants. Similarly, because of its calm and secure bounds, properties for rent in Cantt Lahore
are also very much in demand.
For many tenants, renting smaller houses is more feasible in terms of cost, which is the main reason why most of the recently built houses are smaller in size with maximum area covered to offer complete functionality in the available space. The rising demand for smaller houses has also convinced developers to focus more on smaller houses and plots rather than focusing entirely on luxury properties.
Lahore’s real estate sector also offers many affordable properties for rent. For relatively cheaper houses for rent, upcoming and developing housing projects offer a wide range of options for tenants. Housing projects surrounding the popular real estate developments such as Johar Town, WAPDA Town, DHA, Cantt and Askari offer affordable houses for tenants on a budget.
Moreover, tenants also often find it feasible to rent a portion of a house. Consequently, the upper portions of houses are often built as independent units, increasingly reducing the sizes of the terraces on the upper portion and offering at least two bedrooms with en-suite baths, a living room, a kitchen, and of course, a separate entrance.
Rental income is considered the safest and surest form of earning for people who save and invest their surplus income wisely. Once stagnant and somewhat slow, the real estate market of Lahore has become a full-fledged industry today where choices are diverse and suited to a large bracket of tenants.