It is among one of the most popular places among people looking to buy plots for medium to long term investment. The inclination of genuine buyers towards Defence Housing Authority (DHA) Prism IX also makes sense because the phase is currently being developed and thus promises solid returns on investment soon. In addition to that, plot owners here have also displayed solid holding power, where despite slow market activity off and on over the last two years, property rates here haven’t really plunged.
So how has the situation been in terms of variation in market rates during the year so far? Let’s find out.
According to Zeeshan Butt of Etihad Marketing, the 5-marla plot category has remained to be the most popular one in Phase IX as it’s among the few DHA where dedicated blocks feature this plot size. Furthermore, the amount required to purchase a 5-marla plot is also well under the threshold of PKR 5 million, a limit set for non-filers of income tax returns.
During first quarter of 2018, property rates of 5-marla plots for sale in DHA Phase IX plunged by approximately 2.6% but the following months brought along steady and consistent growth. Between April and October 2018, value of 5-marla plots has gone up by 13.16%. The market rate of a 5-marla plot here, as of October 2018, stand at PKR 4.448 million.
Here is how the journey of 5-marla plots in Prism IX appears on a graph;
Quite interesting, the demand for 10-marla plots in Phase IX has comparatively been moderate and that’s despite the fact that the per-marla rate of these plots is much lower than that of 5-marla plots. Furthermore, most of the 10-marla plots are scattered around 1-kanal plots; a location trait that makes any plot fall in the prime category.
Zameen.com noticed a major hike in rates of 10-marla plots in the second quarter of 2018. The journey from there onwards has also been less than unnoticeable. In fact, the statistics recorded during the start of the fourth quarter also suggest that the next months could also bring along decent appreciation in rates. The average price of a 10-marla plot is PKR 6,455,250.
Here is how the year has turned out so far for 10-malra plots in Prism IX;
The year didn’t started off good for 1-kanal plots as rates continued to plunge for the better part of the first half. The recovery seen after downward trends was rather subtle during the second and third quarter. The start of the third quarter has however been slightly better and the trajectory suggests that appreciation in rates could last for the next couple of quarters; at least until it crosses the previous peak rates touched back in August 2017.
For the genuine buyers currently active in the market, the demand for 1-kanal plots has been registered higher in Blocks A, B, C, and D. That’s perhaps because these blocks are considered prime in terms of access and location. The fact also remains that as and when DHA announces the availability of possession, these blocks will be among the first ones. The value currently stands at PKR 11.457 million.
Here is how the 1-kanal plot price trend appears on a graph;
This is how the first 10 months have been for DHA Lahore Prism IX. If you have feedback to share on the article or any query for us, let us know by commenting below. In the meanwhile, you can also get in touch with Zeeshan Butt of Etihad Marketing for further consultation at +92-321-460-006.