Property rates in DHA Lahore’s Prism IX haven’t plunged, despite a few valid reasons that could have possibly led to a dive. This phase is in its initial development stages and it will take five or more years for possession to be handed over. However, investors and property owners believe that keeping these plots could be more rewarding than selling at the decent profit margin that they are being offered today.
For these property owners, I have decided to share price trends of Phase IX since balloted in May 2015 till April 2016. If you wish to have a detailed look at the current rates or purchase property, I recommend you check out our listing pages for plots for sale in DHA Phase IX.
Surprisingly, the demand for 5-marla and 1-kanal plots is higher than 10-marla plots in Prism IX. This is also reflected in the price trends recorded by Zameen.com
On average, the value of 5-marla residential plotshas gone up by 25% in the last year. When assessed on a monthly basis, the rate inched up by 2% each month. To purchase one, you need PKR 3,380,000.
The cheapest 5-marla plots are found in Block J, which is the most searched block on Zameen.com, per April 2016 stats. The most expensive plots are in Block R, where those with great location boast an asking price of over PKR 4,000,000. At the moment, demand is higher in Block K, which suggests that prices of 5-marla plots can rise even more.
Here is graphical representation of price trends seen in the last year:
The value of 10-marla residential plots in Prism IX has gone up by 22% in the last one year and that’s despite the fact that demand for this plot size is comparatively lower. At the moment, these plots are being traded at an average market rate of PKR 5,500,000.
The most expensive 10-marla plots are those that enjoy a good location in Block K. These are being traded for around PKR 6,200,000. The cheaper lots can found in Block L, towards the boundary, for as low as PKR 4,800,000.
A month-on-month analysis revealed that the value 10-marla plots has also gone up by 2% each month. For short- to medium-term investment, Blocks K and J hold good potential.
This is what the price appreciation of 10-marla plots looks like in graphical form:
The price appreciation recorded in Prism IX has been the highest for 1-kanal residential plots – a whopping 29%. On average, you can find a decent 1-kanal plot for PKR 9,000,000. Investors are currently more interested in Blocks C, D, Q and F and that is primarily because these blocks enjoy better access.
The cheapest 1-kanal plots are being traded for around PKR 6,000,000 and are located near the boundary of Blocks H, K, L, N, M and P. Among these, Blocks K, N and P could be rewarding in the medium- to long- term.
Here is graph that visually depicts the price ascent of 1-kanal plots in Phase IX:
Currently, development work is underway on Block A’s Main Road. An approach road from DHA 9 Town to Block A can clearly be seen now. Furthermore, the boundary wall of this phase has almost been completed and progress has been made on different patches on the main roads.
It seems that Phase IX may be ready for inhabitation by 2021. For many folks, 5 years is quite a tiresome and long duration to wait for returns, especially when property can fetch you gains overnight.
To the investors of Prism IX, however, the wait game appears too rewarding to back out now. What’s your take on this? Let me know in the comments below.