The city of Karachi is also known as the financial hub of Pakistan. People from all across the country come to this city in search of work and a better lifestyle. Meanwhile, the real estate and infrastructure of the metropolis are constantly developing. Owing to these factors, Karachi offers plenty of investment opportunities to its residents.
People searching through houses for sale in Karachi have quite a lot of options to choose from, in terms of locality, property size and condition of residential units. That said, the selection of a home mostly depends on the buyer’s requirements and budget.
Being the country’s top property portal, Zameen.com successfully hosted a large number of property searches only in last month. However, if we specifically have to talk about searches focusing on houses for sale in Karachi, the following were the city’s top residential areas of Jan 2019.
Accounting for 13.6% of the total searches made for residential units during the last month, Defence Housing Authority, commonly known as DHA Karachi, tops our list of the best areas to buy houses in the city. The area of Defence, which is in the southern zone, is made up of eight phases. The infrastructure in DHA is robust. Due to high property rates, property in DHA is affordable for people hailing from the upper-upper class.
Houses for sale in Defence Karachi have different price tags, depending on their sizes. For example, if you are planning to buy a house of 120 sq yd, then you need to shell out PKR 2 crore to PKR 5.5 crore. In case you are interested in buying a 240 sq yd house, then its price range starts at PKR 4.5 crore and goes all the way up to PKR 6.6 crore. Prices for 500 sq yd houses in DHA Karachi are steep, starting from PKR 5 crore, going up to 16.5 crore.
Appearing in 10.4% of the total search results for buying homes in Karachi, Gulistan–e–Jauhar secured the second place in our list. Extremely large in size, this locality of the city is home to a large number of people. Houses available for sale in Gulistan–e–Jauhar are a mix of old and newly-constructed properties. Keeping in view the diverse nature of choices made by homebuyers, the property market of Gulistan-e-Jauhar mostly features 120, 240 and 600 sq yd houses.
Considered ideal and economical by many people, a 120 sq yd houses come with a price range starting from PKR 70 lakh, going up to PKR 2.5 crore. The next popular type of property for sale in Gulistan-e-Jauhar is a 240 sq yd house, the asking price of which can be as low as PKR 2 crore and can go as high as PKR 5.6 crore. Bigger in size and offering more living space, a 600 sq yd unit is considered as one of the luxury property options that usually come with a heavy price tag of PKR 3.8 crore to PKR 13 crore.
Last month, Gulshan-e-Iqbal Town appeared in 9.3% of the total searches made by homebuyers in Karachi, making it the third-best area in this city to buy a house. It is a well-established locality that houses hundreds of thousands of people. Being a highly popular area in Karachi, Gulshan–e–Iqbal Town in Karachi has a wide range of properties available.
The very first option considered by people looking for buying houses in Gulshan–e–Iqbal is a 120 sq yd, which is normally priced between PKR 90 lakh and PKR 3.5 crore. For 240 sq yd houses, PKR 2.65 crore–PKR 11.5 crore is the usual price range. If you like to own a 500 sq yd house in the area, then you need to have a big budget of PKR 5 crore, which can go as high as 14 crore, depending in which block or sector the unit is situated.
The area of Scheme 33 makes up for 6.4% of all searches based on houses for sale in Karachi. It features a large number of housing societies, many of which are still under construction. Being a huge urban residential area, Scheme 33 is considered a very important part of the property market in Karachi.
While selecting a property to buy in Scheme 33, you can easily find a 120 sq yd house in Scheme 33 that normally has the lowest price of around PKR 60 lakh and the highest price of around PKR 2 crore. Due to more space and living convenience, a 240 sq yd house in Scheme 33 comes with a slightly higher price range of PKR 1.1 crore–PKR 3.95 crore. People seeking residence for a bigger family can opt for a 400 sq yd house in Scheme 33, the price of which can be as low as PKR 90 lakh and as high as 5 crore.
Malir accounted for 6.3% of all the searches focusing on houses for sale in Karachi. It is a popular locality, especially among middle-income families. Among all the houses available for sale in Malir, people usually prefer 120, 240 and 500 sq yd property options.
A 120 sq yd house in Malir has a price range of PKR 60 lakh to PKR 5 crore. People buying a 240 sq yd house need to have a budget from PKR 85 lakh–PKR 6.5 crore. 500 sq yd units in Malir are, of course, slightly more expensive. These are available in the PKR 2.2 crore to PKR 8.75 crore range.
According to the data based on the last month’s search trends fetched from Zameen.com, there are many other residential areas in Karachi that are popular among homebuyers and investors.