As the capital city of Punjab, Lahore has seen a growth in population in recent years, with more and more people coming from nearby towns to settle here and earn a living for themselves and their families. As such, the demand for housing is growing and while the city is expanding and creating high-rises to cater to the needs of its residents, buying a house in Lahore is still prefered by many. Are you among them?
Well, if you’re excited about buying a house in Lahore, you’ll probably need to know about the top areas for making your investment worthwhile.
Top 5 Areas to Buy a House in Lahore
The graph above shows 5 of the most searched for areas when it comes to buying a house in Lahore, based on the total search percentages (as of Jan 2019). We’ll be discussing each of the areas in detail below:
Sales Price of Houses in DHA Defence
DHA is and remains the top-most area in our total search percentages, with 26.5% of the house buying searches in Lahore being based on it. Within DHA Defence, searches for buying a home are targeted towards three sub-areas, which are DHA Phase 6, DHA Phase 5 and DHA Phase 1. While Phase 6 has 29.4% of the total search percentages, 21.3% and 10.2% of the searches are focused towards Phase 5 and Phase 1 respectively.
Homes in Defence Lahore are available in a variety of sizes, but the most popular area sizes are of 5 marla, 10 marla, 1 kanal and 2 kanal. Houses of 5 marla can be bought for a price of PKR 75 lakh to PKR 2.7 crore within DHA, while a 10 marla home can cost PKR 1.35 to PKR 4.25 crore. Similarly, houses having 1 kanal can be priced at PKR 1.75 to PKR 12.25 crore, whereas properties of 2 kanal can have prices between PKR 5 crore to PKR 22 crore.
Sales Price of Houses in Bahria Town
Next up on the most searched for areas in Lahore is Bahria Town, which has a total of 7.7% of the searches to its name. Sectors C, B and D are the main targets for house buyers here, with 32.5%, 30.1% and 14% of the total searches for each.
With respect to homes, Bahria Town has 5 and 10 marla houses, as well as larger 1 to 2 kanal properties. A 5 marla bungalow can be on the market for PKR 70 lakh to PKR 1.68 crore within the housing scheme. Meanwhile, 10 marla options will require an investment of PKR 1.04 to 3 crore. Similarly, between PKR 1.4 to PKR 5.75 crore is needed to own a 1 kanal home in the area, while homes of double the size, with an area size of 2 kanal, are being sold for PKR 4.25 to 11.8 crore.
Sales Price of Houses in Johar Town
Around 4.4% of the total searches for buying a house in Lahore are focused towards Johar Town, with its Phase 1 having 52.9% and Phase 2 having 45.9% of the searches.
With regards to prices, homes of 5 marla in Johar Town are priced between PKR 70 lakh and 1.8 crore. A 10 marla home, on the other hand, can be bought for PKR 1.15 to PKR 3.25 crore. Interested in buying a 1 kanal property in Johar Town? Well, prices for that can be between PKR 2.4 to PKR 12 crore, while a 2 kanal bungalow can have prices ranging from PKR 4 crore to PKR 32 crore.
Sales Price of Houses in Cantt
Lahore’s Cantonment area offers prime real estate and therefore, 2.9% of the total home buying searches are directed towards it. The top 3 areas within Cantt to look for a home are Ali Park, Saddar and Khuda Bux Colony, which have 13.8%, 11.5% and 11.3% of the total search percentages.
Homes in Cantt can be found for a range of sizes and the prices of the properties vary accordingly. While 5 marla bungalows can cost PKR 40 lakh to PKR 1.5 crore, 10 marla residences can be priced for PKR 1.15 crore to PKR 5.5 crore. Meanwhile, houses for sale of area sizes 1 and 2 kanal in Cantt can be found for prices of PKR 1.3 to PKR 9 crore and PKR 5.6 to PKR 21 crore respectively.
Sales Price of Houses in Askari
The 5th area in our list is Askari, which is under the management of the Pakistan Armed Forces and is thus, a secured community to buy a home. As of January 2019, 2.6% of the house buying searches were based on Askari with Askari 10, 11 and 9 being the most searched for sub-areas. The data collected also shows that 46.2% of the total searches were for Askari 10, 34.1% were for Askari 11 and 7.5% were for Askari 9.
Homes in Askari are available in two popular area sizes. While 10 marla houses are being sold for PKR 1.75 crore to PKR 3.5 crore, a house of 1 kanal in Askari can have a price of PKR 3.25 crore to PKR 5.5 crore. However, homes of 12 and 17 marla can also be found in the area, having price ranges of PKR 1.6 crore to PKR 3.4 crore and PKR 3.5 to PKR 4.3 crore respectively.
Although we have listed the top 5 areas for home buying, the trends section actually has a list of the top 20 areas for buying houses in Lahore. Feel free to browse through them at your leisure before you make an investment within Lahore’s real estate market. Leave a comment below if you’d like to discuss the topic further.