Real Estate Situation in Multan – Trend Analysis
Having an area of 133 sq Km and being the 7th biggest city of Pakistan by population, Multan has gained a considerable attention by the government and the investors living in nearby regions and all around the country.
The reason for the city to become a center of attention in the recent years is its stable socio-political, educational and economic situation which is why it is being populated on a faster pace as more and more people are moving here from the nearby districts like Bahalwpur and Muzaffar Garh.
With property investment point of view, the city has lot more to offer to investors, who are eager to explore the opportunities in Multan.
Why to Invest in Multan?
Investors need authentic reason of investing in Multan because there are various other developed cities in Pakistan where the real-estate sector is flourishing quickly. Though, for the far-off investors, it might not be a big attraction as they can invest the same amount in their own nearby regions but for people of Bahwalpur, Muzaffar Garh and other neighboring semi-urban districts, it is indeed a golden opportunity.
The flourishing real-estate market of the city is perhaps the biggest attraction as more housing societies like Fatima Jinnah Town, Wapda Town, Punjab Government Servants Housing Society and some others are offering high quality living standards with landmark construction in Pakistan. The most recent project which is underway and yet needed a proper official launching is DHA.
According to property experts, with the launching of DHA in Multan there will be seen a tremendous boost in property market of the city, which is likely to attract investors not only from the surrounding regions but from across the country and overseas Pakistanis too.
In the initial stages the price of DHA Multan was set at PKR 4,000,000; however, later it was brought down as the people were hesitant to make that much big investment for the project, which is still in the air. In Ramadan the prices saw a sudden fall and were set at PKR 2,800,000. However, the post-Eid activities were supposed to surge the files prices once again.
Besides DHA, Multan has also various other housing societies where development is underway on the faster pace. Fatima Jinnah Town is one of the best housing societies where price per Marla revolves around 2.5 to 3.5 lac, with a 15% increase in the year 2015. WAPDA Town is also a big name in the highly developed societies of Multan where price per Marla is considerably high i.e. 3.5 to 5.5 lac with a 20% rise in the prices than last year.
In Punjab Government Servants Housing Society, price per Marla is 2.5 — 3.5 lac and this year, it has risen up to 15%.
Additionally, with an overall development point of view, there will be constructed various new plazas in near future as a result of which the commercial activities are expected to rise manifold, which in-turn will create more business opportunities. Thus, the increasing investment opportunities and latest shopping facilities are likely to raise the interest of investors in the city.
The beautiful malls of the city which include – S.S Mall in Multan Cantt, Crystal Mall, United Mall and Mall of Multan, not only add to the commercial value of the city but also provide great facility