The list of Most Expensive Places in Pakistan is Karachi, Lahore, and Islamabad. Wealthy individuals own them and invest significant time and resources into their maintenance.
In 2019, the most populous metropolis of Pakistan, the country’s wealthiest urban community, was projected to have a GDP of $84 billion.
The Walled City, the prominent Badshahi and Wazir Khan Mosques, and a few Sikh and Sufi shrines are undoubtedly located in the city, which forms a considerable portion of the commerce generated by Pakistan’s tourist sector.
Similarly, the cost disparity levels in Multan and Lahore are comparable, coming in at 10.35 and 10.53, respectively.
Instead, people think Islamabad is an expensive city with the Most Expensive Houses in Pakistan. There is a discrepancy of 19.6 percent between the market’s supported valuations.
Committee for the National Monitoring of Prices
The Ministry of Pakistan tasks the National Price Monitoring Committee, commonly referred to as the NPMC, with executing its directives. The Prime Minister of Pakistan, Imran Khan, approved introducing a new pricing system to address the existing system’s shortcomings.
The proper name for this apparatus is the Decision Support System for Inflation (DSSI). We can find the Most Expensive Houses in Pakistan based on these prices.
According to the Pakistan Bureau of Statistics (PBS), the Decision Support System for Inflation will play a pivotal role in evaluating the performances of local district instructions in the most densely populated regions of the country. These findings result from a survey conducted in these regions and the Most Expensive Houses in Pakistan.
Cities in Pakistan That Are Within Reasonable Price Range
Several cities in the province of Punjab have the lowest overall cost of living as a result of the reduced-price differential rate. The National Price Monitoring Committee (NPMC) reported statistical data indicating that Bahawalpur has the lowest prices, with only a 9.25 percent difference between market and district prices.
Similarly, the price disparity % in Multan and Lahore is the same, coming in at 10.35 and 10.53, respectively. On the contrary, Islamabad is renowned for being an expensive city, as it has a price differential of 19.6 percentage points between the market and the approved pricing rate.
Read: Cost of Living in Pakistan: What is the Best City to Live in?
List of Most Expensive Places in Pakistan
Most Expensive Areas in Islamabad
Islamabad, the nation’s capital, has often ranked among Pakistan’s most expensive cities. Real estate costs in this area have never been very affordable, and it has the Most Expensive Houses in Pakistan. Initially, the prices in the old town of Islamabad were higher than in the newly constructed parts of the city.
Locations in Islamabad With the Highest Average House Prices
Regarding pricing, primary markets are far more expensive than local markets. However, The prices of residences currently on the market reflect the price patterns of residential real estate.
Many non-locals strongly prefer residing in the more affluent neighborhoods of the capital and the Most Expensive places in Pakistan.
Neighborhoods such as E-7, F-8, F-7, F-6, F-5, and G-5 are home to residents from other countries. These markets are renowned for their relatively high prices. All of the markets mentioned above have expensive pricing.
The land area of these plots is significantly more significant, and 1, 2, or 4 Kanal homes are available. The starting point for the typical price of a one-kanal property for sale in some sectors, such as E-7, F-7, and F-6, is between 8 and 9 crores.
List of Most Expensive Places in Islamabad
E-7 Islamabad
E-7 is the location of several foreign diplomatic missions and consular offices. It is also recognized as the most expensive residential neighborhood in Islamabad.
F-6 Sector Islamabad
The F-6 sector is considered the sector with the second-highest overall cost. The most expensive markets in the city, Kousar, and the Supermarket, are located in this neighborhood. Constitution Avenue, Margalla Road, and 7th Avenue are the three essential thoroughfares that pass through this neighborhood.
If you face the opposite direction of E-7 from F-7, you will come across the Eastern Business Center. This sector has the third-highest average price.
F-8 Islamabad
- The F-8 area comprises numerous government offices and buildings and houses the Islamabad Kutchery.
- The sector is currently ranked as the fourth most expensive.
F-10 and F-11 Islamabad
- F-10 and F-11, situated on the opposite side of Fatima Jinnah Park, will be ranked at the fifth position. The average price of a house measuring one kanal currently on the market in different areas is nearly the same, with just a few slight variations. Despite this, the prices in these two markets are relatively modest. On average, houses of 1 Kanal typically go for between 5 and 6 crore rupees.
Note:
Park View City quickly becomes the costliest residential neighborhood in Pakistan, given that Islamabad is consistently ranked as one of the costliest cities.
The following are the prices for these residential plots:
- The value of 5 Marla is PKR 15,000,000.
- The price of 10 Marla is PKR 27,500,000.
- 3.5 marla is equal to 3,500,000 Pakistani rupees.
Read: CDA Provides Opportunities for Real Estate Investment in Islamabad
Most Expensive Areas in Lahore
Lahore, Pakistan’s capital and largest city, is often regarded as the country’s wealthiest metropolis, with an estimated GDP of 84 million dollars in 2019.
Some of the most notable landmarks in the city are the Walled City, the illustrious Badshahi and Wazir Khan Mosques, and several Sikh and Sufi shrines that portray values and spirituality.
These places contribute to the marketing and development of the tourist industry and are the Most Expensive Areas in Pakistan.
List of Most Expensive Places in Lahore
The following is a discussion of Lahore’s most prestigious residential areas having the Most Expensive Areas in Lahore.
- Park View City Lahore
- Smart City Lahore Smart City
The Smart City of Lahore
A joint venture between Future Development Holdings Limited (FDHL) and Habib Rafique, Lahore Smart City, is currently under construction (Pvt.) It is the residential neighborhood with the highest average price in Lahore. The developers built Lahore Smart City to achieve the goals of modernism, stability, and tranquillity for the city’s residents.
The Lahore Smart City housing community is located on the Lahore Bypass, close to the Lahore junction. It is in the vicinity of Kala Shah Kaku. GT Road in Lahore and the Lahore-Sialkot Motorway provide access to the Lahore Smart City complex.
In addition to that, it offers direct access to the Ring Road. Lahore Smart City Housing Society’s residents can communicate with the rest of the city. The Lahore Development Authority has given its stamp of approval, and as a result, the city has planned to exude a robust sense of community.
It offers people a sense of tranquillity and peaceful society, which can pave the way for developing prospective platforms for changes in residential, industrial, and recreational pursuits.
Park View City Lahore, Pakistan
Vision Groups considers the housing development, Park View City Lahore, as one of the most promising projects. Aleem Khan, a key member of Pakistan’s ruling party, Pakistan Tehreek-e-Insaf, established Vision Group and is the group’s founder (PTI).
Since 2012, The Vision Group has been innovating and influencing the real estate industry. They were successful in establishing themselves as a reliable organization. They have finished luxury real estate developments in major cities, including Lahore, Islamabad.
The location of Park View City Lahore is one of its many appealing features. On the other side of the DHA EME zone, from where it can be found, on central Multan Road. You can reach the Thokar Niaz Baig Flyover and Canal Road after three kilometers.
The fact that it is simple to reach from any of the three sections of the city is by far the most advantageous feature. The motorway that connects Lahore and Islamabad is about two kilometers distant.
It is not only the most luxurious but also the most costly residential neighborhood in all of Lahore. The interiors of the villas in Park View are exquisite, and they feature sophisticated finishes and generous amounts of room.
Fresh landscaping and eye-catching new settings have upgraded the landscape around the villas. Green spaces such as parks and fields cover five percent of the total land area.
The Karachi Neighborhoods With the Highest Average Home Prices
Clifton
Karachi’s Clifton neighborhood is notable for its extensive and long-established settlement. It is beyond reason that it is the most affluent and sophisticated neighborhood in Karachi.
In addition to being a component of Saddar Town, it is the location of several well-known sites, including the mausoleum of Abdullah Shah Ghazi and the Mohatta Palace.
The primary section of Saddar lies to the north of Clifton, while Clifton’s beach faces south. Gizri village and DHA Karachi are near to the east of us, and China Creek faces to the west.
Landmarks nearby Clifton
Compared to other areas of the city, the neighborhood with well-known medical facilities, educational institutions, and universities like SZABIST and Indus Valley School of Arts has a competitive advantage.
In addition to the beach, Clifton features several additional leisure venues and amenities, including several shopping malls (Park Towers and Forum), and parks (Benazir Bhutto Park and Bagh Ibn-e-Qasim).
These several restaurants are present across the region. Not only is Boast Basin a popular hangout location for those living in Clifton, but people from all over Karachi also frequent it.
A wonderful time in nearby restaurants such as BBQ Tonight, Nando’s, TGI Fridays, etc., by anyone who enjoys a subdued and dimly lit atmosphere. Moreover, Clifton boasts several sizable commercial areas that enjoy great popularity among retail establishments and commercial business customers.
The easy connectivity to all of the neighboring places is another primary factor contributing to the appeal of this location. You can quickly and easily access the areas of Saddar and DHA through major thoroughfares such as Shahrah-e-Firdousi, Khayaban-e-Iqbal, and Zamzama Boulevard.
It makes traveling over the entirety of the area much more straightforward. The advantages of living in such a location come with a cost. In such a location, the cost of a home of 250 yards ranges from 40 to 60 million rupees.
Reviewed By Mr.Rizwan Sajjad
