I am interested in buying a 3/4 bed apartment/flat in BT rawalpindi or dha phase 1/2 islamabad but i need advice which option is better for medium/long term. My main requirement is to be within walking distance of all amenities ie shops, restaurents, park, mosque, hospital etc. I have reasons for choosing BT/DHA 1/2 location as i am aware of other developments.
Go for a house in Bahria Phase 8 or DHA not for flat or apartment… The gurus might guide you further…
Yes, houses are preferred but trends are somehow changing.
Following are few point/personal experiences that may help other as well, who may be interested, as in last few years there is a growing interest in apartments/flats. Budget is a primary factor to opt-in for one option or the other.
- Advantages
Apartments at good places like BT, DHA or Gulberg enjoy the best possible locality of that particular society. For example, Flat in BT Phase 1 or Gulberg Greens that may cost 5 to 8 million (2-3 bed/1000 - 1300 sq.ft.) enjoys the same environment, security, amenities like the houses that can cost 25 to 30+ million.
Apartments in BT or DHA are normally managed by the developer so up to date maintenance, provision of security, electricity, gas, water becomes the responsibility of the developer against some nominal payment monthly (depending on the size but approximately 2000 to 2500 PKR for an apartment of Size 1000 to 1200 sq. Ft.). Yes, those facilities are available from the society but since apartments is a smaller area than the overall society so developer can better and faster manage that.
- Disadvantages
- The notable disadvantage is fixed structure that cannot be altered and the owners do not own the roof or floor.
Price Appreciations
Price appreciation is a subjective discussion and people argue in favor or against it. Its a fact, that owning an apartment at a decent location helps with (i) Enjoying good standard of living, (ii) Good rental yield. For example, in Centaurus a normal 1/2 bed apartment may touch 3 million plus. So price appreciation somehow also depends on the location, facilities, etc. Normally, apartments at good locations like BT or DHA have prices mostly satured as those places are well developed and ideal for living but lesser margins of growth. However, growth is there but slow and steady.
- Pricing
In BT, DHA, Gulberg Greens prices may range from 5500 to 9000/sq. Ft. Depending on the project. Some new projects under development may cost from 6500 to 9000 but some projects that are already developed and populated may range from 5500 to 7000. If you like to purchase immediately and on cash already built ones can help as community living there prices can be better than the under development ones (due to increase in pricing of construction cost in last 2 - 3 years prices have gone up significantly for projects under development).
- Location/Where to Buy
I agree to buy apartments in BT or DHA (early phases) as they represent much better option in terms of facilities and value for money - my personal experience and views.
I can only objectively write about the one with a personal experience. As far as BT Phase 1 I had good experience in living, renting, buying and selling with QJ Heights that is one of the closest to mainstream city as far as BT RWP is concerned with all daily life amenities (parks, shops, fitness centre etc.) mostly at a walking distance.
Gulberg Green also has some good projects but an year or two will be required for them to be properly shaped up.
Of-course there will many options on par or better than this. I am sure other members can add their valuable inputs here. The views and details above are based on my personal experience and I do stand corrected in case I may had missed something obvious.
Yes, houses are preferred but trends are somehow changing.
*Following are few point/personal experiences that may help other as well, who may be interested, as in last few years there is a growing interest in apartments/flats. Budget is a primary factor to opt-in for one option or the other.
1. Advantages
- Apartments at good places like BT, DHA or Gulberg enjoy the best possible locality of that particular society. For example, Flat in BT Phase 1 or Gulberg Greens that may cost 5 to 8 million (2-3 bed/1000 - 1300 sq.ft.) enjoys the same environment, security, amenities like the costly houses that can cost 25 to 30+ million.
- Apartments in BT or DHA are normally managed by the developer so up to date maintenance, provision of security, electricity, gas, water becomes the responsibility of the developer against some nominal payment monthly (depending on the size but approximately 2000 to 2500 PKR for an apartment of Size 1000 to 1200 sq. ft.). Yes, those facilities are available from the society but since apartments project is a smaller area than the overall society so developer can better and faster manage that.
2. Disadvantages
- The notable disadvantage is fixed structure that cannot be altered and the owners do not own the roof or floor.
Price Appreciations
Price appreciation is a subjective discussion and people argue in favor or against it. Its a fact, that owning an apartment at a decent location helps with (i) Enjoying good standard of living, (ii) Good rental yield. For example, in Centaurus a normal 1/2 bed apartment may touch 3 million plus. So price appreciation somehow also depends on the location, facilities, etc. Normally, apartments at good locations like BT or DHA have prices mostly satured as those places are well developed and ideal for living but lesser margins of growth. However, growth is there but slow and steady.
- Pricing
In BT, DHA, Gulberg Greens prices may range from 5500 to 9000/sq. ft. depending on the project. Some new projects under development may cost from 6500 to 9000 but some projects that are already developed and populated may range from 5500 to 7000. If you like to purchase immediately and on cash already built ones can help as community living there prices can be better than the under development ones (due to increase in pricing of construction cost in last 2 - 3 years prices have gone up significantly for projects under development).
- Location/Where to Buy
I agree to buy apartments in BT or DHA (early phases) as they represent much better option in terms of facilities and value for money - my personal experience and views. Purely residential option can better, quieter/peaceful and cleaner than the ones that have commercials on the ground and residential on top. Buy wherever, avoid the ones in basement, go for the one at ground or 1 - 2 levels above as air circulation will be proper and fresher + sun light.
I can only objectively write about the one with a personal experience. As far as BT Phase 1, I had good experience in living, renting, buying and selling with QJ Heights that is one of the closest to mainstream city as far as BT RWP is concerned with all daily life amenities (parks, shops, fitness centre etc.) mostly at a walking distance. BT beyond Phase 4/5 can be too distant from the mainstream city as far as apartments are concerned.
Gulberg Green also has some good projects but an year or two will be required for them to be properly shaped up.
*Of-course there will many options on par or better than this. I am sure other members can add their valuable inputs here to get the discussion going. The views and details above are based on my personal experience and I do stand corrected in case I may had missed something obvious.