Zameen.com’s Index is a measure of the general outlook of property prices in Pakistan. It is calculated each month to provide details of how property prices have behaved during the month in Pakistan, as well as in the three major cities; Lahore, Karachi and Islamabad.
The prices remained rather stable during September as the new government settled in for business and the real estate community waited for the supplementary budget.
Pakistan House Price Index
Property prices for houses in Pakistan rose slightly during the month. The Pakistan House Price Index increased by 2.36 points in September, and currently stands at 234.36 points.
Pakistan Plot Price Index
The Pakistan Plot Price Index showed an increase of 0.62% during September, which again emphasises the stability of the market. The index points increased by 1.55 points to rise to 250.55 points.
Lahore House Price Index
The prices for houses in Lahore increased by 1.47%, going up by 3.53 index points. The Lahore House Price Index now stands at 243.72.
Lahore Plot Price Index
The prices of plots in Lahore exhibited an increase of 0.79%, as Lahore Plot Price Index rose by 2.37 index points. The Lahore Plot Price Index stood at 303.05 at the end of September 2018.
Karachi House Price Index
The prices house which had been steadily decreasing little by little for the past few month rose slightly during September 2018. The Karachi House Price Index increased by 0.69 points and rose to 202.94 index points, registering a growth of 0.34%.
Karachi Plot Price Index
The index for plot prices however showed no signs of stabilising this month either as the prices decreased 3.19% to settle at 201.06 index points, registering a decrease of 6.63 index points. This means that of all the markets discussed here, Karachi is the only one registering a downward trend.
Islamabad House Price Index
House prices in Islamabad registered a slight increase of 0.24%, an increase of 0.43 index points. In Islamabad too, the market had the stability that marked the rest of the country. The Islamabad House Price Index stood at 178.28 index points at the end of September 2018.
Islamabad Plot Price Index
The Islamabad Plot Price Index improved by 1.15%, as the index points increased by 3.54 points. The index stood at 311.26 by the end of the month in September 2018.
Overall, the real estate market of Pakistan has remained stable, with most of the price indices registering a slight growth, if any. The Karachi real estate market, however, continued its slight downward trend as the Karachi Plot Price Index saw a drop of another 3.19%.
Most of this is not unexpected considering that most of the month was spent in deliberation and passing of the budget which was to come into effect in the beginning of October. This points to the fact that realtors exercised caution as they waited for the policies of the new government to become clearer. It will be a few months more before we see the clear direction of the market as it will continue into the future.