The trend of buying luxury apartments has increased in Islamabad during last couple of years, primarily due to an increasing demand for secure, well-maintained and lavish units; it is therefore not surprising that between 2010 and 2016, apartment prices have increased.
Traditionally, apartment projects were mostly restricted to Karachi, as cultural preferences in Lahore and Islamabad were for horizontal residential projects. However, with the rapid urban sprawl, cities have become congested, land prices are going up, and the apartment living trend is swiftly gaining traction in these cities as well. In fact, in the last five years alone, the demand for apartments has gone up by nearly 30%, which has given rise to an increasing number of newly constructed high-rise luxury apartments in major areas of Rawalpindi and Islamabad.
There are approximately five thousand plus ready to move apartments available in Bahria Town phase 1 to 6 having about 60 % residents residing on rent here. Many luxury apartment buildings are in construction phase and few are in the planning stage. It is secure to invest in the luxury apartment projects in Bahria Town because of three main reasons; firstly, Bahria Town has very strict rules/regulations regarding the construction of safe and secure hi-buildings, secondly, the maintenance and development of roads, green belts, parks and other infrastructure is responsibility of the concerned authority, thirdly, residential units are high in demand and mostly occupied on rent as well as purchased. Moreover, the apartment’s buildings are being constructed by renowned and credible developers who provide excellent after sales services like maintenance and provision of facilities like, security, electricity etc.
Apartments are convenient to clean and maintain with few items of furniture. Apartments inside Bahria Town are highly secure and safe as the buildings have their own security system plus Bahria Town’s security on the roads.
Rents are soaring and demand for apartments is historically high in Bahria town phase 1 to 6, Construction of new multifamily units has been robust over the past five years, far outpacing that of single-family homes, but most of the product is in pricey markets and pricier neighborhoods, not in areas where demand is highest. That is because the costs of land and construction rose.
High rise buildings equipped with amenities and luxuries are in high demand within posh areas of major cities which is becoming a Pakistani urban trend and necessity. The best investment options for apartments are Bahria Heights, The Grande which is located in Phase 2, 3 and Civic center.