If you’re unsure whether buying an apartment is a good real estate investment or not, you’ve landed at the right place. The simple answer to this question is: if you’re planning to buy a rental property or want to enter the market for short-term investment, buying an apartment might be the perfect investment option for you as they offer high returns and are easy to maintain.
Apartments have always been a rewarding investment and over the past decade, the popularity of apartments in Pakistan has seen a significant rise. The people of the country have shifted their preference from living in independent houses to living in mid and high-rise buildings. Owing to this preference shift, the developers and builders have turned their focus to vertical developments to meet the increasing demand for residential units in populated areas.
Therefore, if you’re a new investor or someone looking for expert investment advice, we have made a list of reasons to invest in apartments that will help you make the best decision.
The Rising Demand for Apartments in Pakistan
In Islamabad, the demand for apartments grew from 15 percent to 17 percent from 2018 to 2020. The demand for apartments in Punjab also increased from 15 percent to 17 percent during the last two years. One of the main reasons for the growing popularity of apartments in Pakistan is rapid urbanisation.
In addition, the scarcity of land in metropolitan cities has resulted in increased plot prices, which has prompted investors to invest in apartments instead of plots. The government of Pakistan has also imposed restrictions on the horizontal expansion of some cities to prevent urban sprawl. This has further strengthened the need for vertical developments in the country.
Why Invest in Apartment Projects in Pakistan?
Here are some of the key reasons why you should invest in apartment projects in Pakistan:
- They Offer a Steady Source of Income
Investing in apartment projects can provide a stable and reliable source of income. Whether you’re a new investor looking to purchase your first rental property or are an experienced investor planning to diversify your portfolio, you should consider investing in apartments that can offer an attractive rental yield.
- Easy Maintenance
As compared to detached houses, apartments are easier to maintain. Almost all apartments have their own management that is responsible for the upkeep and maintenance of the building. They not only look after the shared facilities and amenities but take care of issues like leaking pipes, water damage, or burnt wiring in the apartment units. As an investor, you won’t have to worry but such issues that may surface over the years.
- Salability Factor
Lastly, one of the key reasons to invest in apartments is their salability factor. Their growing demand makes them easy to sell in today’s market, especially if they’re located in any popular area. Luxury apartments are usually situated away from the congested areas of the city. However, they’re mostly well-connected to the commercial and residential hubs through road networks, making them easily accessible.