August 2018 saw a lot of post-election interest in the real estate market. Trading slightly improved because of this, and the market remained actively engaged with genuine buyers.
As the graph suggests, overall property prices for houses in Pakistan have remained stable in the last few months. During July, these increased by 0.7%, during August too, they experienced the same increase. The increase of 1.75-index points this month, when taken with last month’s 1.59-index points, shows that the market is stable.
The Pakistan Plot Price Index has recorded an increase of 0.43% during August, which when compared with July’s increase of 0.24%, shows that the market is stable. During July, the Plot Price Index increased by 0.6-index points, and in August there has been a 1.06-index point increase. The coming months would help determine in which direction the market is moving.
The prices for houses in Lahore have increased by 1.26%, going up from 2.98-index points. During July, there was an increase of 1.35% in prices, adding up to 3.16-index points. These statistics exhibit that the prices for houses in Lahore are stable, which can also be seen on the graph.
The prices of plots in Lahore have exhibited an increase of 0.46%, coming from an increase of 1.39-index points. During July, there was an increase of 0.1% and 0.31-index points. Both of these indicates show that the market is stable and moving in the right direction. If there are more percentage changes in prices in the upcoming months, then something can be said about the property prices with certainty.
The market for houses in Karachi has exhibited a slight decrease in property prices, as these have gone down by 0.2%, by 0.41-index points. During July, the prices for houses fell by 0.72%, from a decrease of 1.46-index points. This shows that this month too, the market has retained its downward trajectory.
The market for plots in Karachi has also gone down slightly, by 4.66%, with a decrease of 47.38-index points. During July, there was a decrease of 6.67% in property prices, with a 47.38-index point decrease. This shows that the prices for plots in Karachi have been going constantly downwards, albeit at a smaller percentage decrease.
House prices in Islamabad have increase by 0.62%, from an increase of 1.09-index points. This means that the property market is moving in the right direction. During July, there was an increase of 0.67%, from an increase of 1.17-index points. These trends indicate that the market is stable and that it is moving in the right direction.
The Islamabad Plot Price Index improved by 0.31%, through an increase of 0.96-index points. During July, there was an increase of 0.67%, with an increase of 2.03-index points. This indicates that the market for plots is stable and that the coming months will help determine exactly how and in which direction the market will move.
Overall, the property market has remained stable, except for minor fluctuations in Karachi’s property market for both plots and houses. The market is exhibiting stability, but the expected post-election effects haven’t been observed as of yet. The true shape of real estate can only be gauged once a few months have passed.
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