Lahore, widely regarded as the cultural capital of Pakistan, is not just famous for its historic Mughal-era buildings, lush green gardens and diverse culinary culture, but it’s also popular for being one of the most hospitable cities in the country.
For the longest time, residents of Lahore had a distinct style of living. Unlike most metropolitan cities, people preferred living in detached, independent homes built on the land they either inherited or acquired themselves. However, over the last few years, things appear to have changed to a great extent.
The sharp increase in the city’s population gave way to accommodation problems, prompting Lahore to follow the trend of other populous cities and go vertical. As a result, sky-high residential towers began surfacing all over, highlighting a major cultural shift as more young people started buying flats in Lahore rather than investing in houses.
Although there are certain advantages and disadvantages of living in an apartment, the rising prices of real estate in Lahore also played a huge part in the evolution of apartment culture in the city. Since buying and maintaining a flat is much cheaper, it’s only understandable why people now appear more inclined towards apartment living.
Needless to say, buying property in Lahore is also a huge investment. You can’t make this decision without doing extensive market research to help you determine the most popular areas to buy flats in Lahore along with their price range.
Here is a detailed analysis of the buying trends for the top five areas in the city of Lahore.
DHA Defence Lahore
A prime location promising a luxurious lifestyle, modern amenities, quality education and excellent health care facilities, Defence Housing Authority (DHA) held on to its position as the most popular area in Lahore for buying flats and apartments with 25.2% of total searches.
According to the search trends on Zameen.com, DHA Phase 6, Phase 5, Phase 8, Phase 1 and Phase 3 appear to be the most sought-after localities within the area.
If you are looking for apartments in DHA Lahore, a 1-bedroom flat in the area will cost you somewhere between PKR 45 lakh and PKR 2.2 crore. The price of 2-bedroom apartments varies between PKR 60 lakh and PKR 3.5 crore, whereas the buying range for 3-bedroom apartments in Defence Lahore starts from PKR 1 crore and can go up to PKR 5 crore.
The second most sought-after area for buying apartments and flats in the city of Lahore for the month of January 2019 is Bahria Town. It drew a total of 7.4% searches on Zameen.com. As a residential and commercial project offering affordable and modern living along with various top-notch amenities, Bahria Town has been ranking second on the popularity index since last year.
Along with its own transportation service, hospitals, markets and banks, Bahria Town Lahore even has its own school and college within its boundary walls so the residents aren’t forced to leave the gated community for such facilities.
Of all the sectors in Bahria Town Lahore, which is like a small city in itself, Sector C, Sector B, Sector D, the Overseas Enclave and Sector E were searched more times than the rest.
When it comes to apartment living, every person is bound to have a different preference for what type of space they want to reside in. Conversely, studio apartments are an ideal accommodation option for young couples or people who don’t have a lot of belongings.
The studio apartments in the area cost between PKR 31.5 lakh and PKR 46 lakh while the price of 1-bedroom apartments ranges from PKR 24 lakh to PKR 65 lakh. If you are interested in purchasing a 2-bedroom flat, you can find one within the range of PKR 45 lakh and PKR 1.1 crore.
Askari Housing Society
Askari Housing Society in Lahore, one of the first gated communities in the city, secure third position on the popularity index with 4.6% of total searches. Since it is considered one of the most secure housing societies in Lahore, Askari’s popularity among potential apartment buyers doesn’t come as much of a surprise.
Of all the sectors in the society, Askari 11, Askari 10 and Askari 5 appear to be more popular than the rest.
For those looking to buy a flat in Askari, the price of studio apartments ranges from PKR 1.1 crore to PKR 1.9, crore depending on the block and the project. The 2-bedroom flats in the area cost between PKR 70 lakh and PKR 1.7 crore whereas the buying trend for 3-bedroom flats ranges from PKR 90 lakh to PKR 2.9 crore.
If you have a big family and need more space, 4-bedroom apartments are also available in the area. However, the price range of these luxury apartments is a bit steep as it starts from PKR 1.6 crore.
According to the Zameen popularity index, Johar Town was the fourth most sought-after area when it came to buying flats, acquiring a total of 4.2% searches. This was a small increase from 3.7% searches in the previous month.
Johar Town Phase 1 and Phase 2 were the most searched localities in the area, making up about 50.9% and 47.6% of total searches.
For those interested in investing in apartments in Johar Town, 1-bedroom flats in the area cost between PKR 15 lakh to PKR 35 lakh. Likewise, the asking price of 2-bedroom flats ranges from PKR 24 lakh to PKR 48 lakh.
It is important to note these prices are bound to vary with different phases and projects.
With a total of 2.7% searches, Cantt Lahore ranked fifth in the Zameen popularity index for the month of January 2019. Although this upscale residential area is located within Lahore City District, it is controlled and maintained by the Military Lands and Cantonments Department of the Ministry of Defence.
Lahore’s Allama Iqbal International Airport is also located in Cantt, adding to the area’s value. While it is a relatively big neighbourhood with a number of residential projects, Saddar, Ali Park, Ghazi Road, Barki Road and Sarwar Road appeared to be more popular areas than the rest. This area is considered a residential and commercial hub with affordable housing and facilities.
The types of flats available in Cantt include 1-bedroom, 2-bedroom and 3-bedroom units along with studio apartments.
If you have tips about which areas are more suitable for buying flats in Lahore, please share them in the comments section below.