Islamabad Real Estate Market 2024

Islamabad real estate market is the 5th biggest real estate market sector in Pakistan. Islamabad is based in urban and rural areas. Capital development authorities own real estate and housing development projects. Islamabad real estate is divided into CDA sectors and private real estate developers. Blue area Islamabad is the hub of real estate activities in the city. Moreover, Bahria Town Enclave Islamabad, Gulberg Green Islamabad, Park View City Islamabad, Naval Encourage, and CDA are the main real estate stakeholders.

Islamabad real estate market in 2024 will be an expensive real estate market. Islamabad's real estate market is small in area size. Its prices are high. The year 2023 was considered a bad year in terms of sales. However, the Luxury real estate market includes apartments and villas sales increase.

The First Two Quarters of the year 2024 will remain quiet in terms of property sales and purchase and investments points of view. Current political instability, the economic condition of the country, high inflation rates, uncertainty in currency exchange, and high-interest rates force people to avoid investment in Islamabad real estate.

Islamabad Real Estate Market 2024

Author’s Statement about the Islamabad Real Estate Market

Islamabad real estate market 2024 prices will decrease further in the first 2 quarters of the year. The gap between the demand and supply of real estate products will increase. Islamabad real estate market 2024 predictions may be false if sales start to increase in the first 2 quarters. However, if just political factors will stabilize in the next few months. It will help to recover the Islamabad real estate market in 2024.Because Islamabad real estate market is small in size. International real estate investors like to invest in commercial and luxury real estate.

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Introduction of Islamabad City

Islamabad is the capital city of Pakistan. Islamabad area is divided into different sectors. Capital Development Authority Islamabad manages Islamabad city. Geographically, Islamabad has a beautiful location. Most of its area is covered with the Margala Mountains. Naturally, Islamabad's weather is fantastic. There are four seasons in Pakistan's capital city. The natural forest look of Islamabad keeps the city green and colorful.

Islamabad is divided into different sectors. Most government employees, diplomats, Ambassadors, and foreigners are living in Islamabad. Islamabad is well well-developed city. You can find public and private offices all around Islamabad. There are many business activities in Islamabad. You can find many restaurants, cafes, hotels, and retail brands in Islamabad.

Islamabad's total population is 1.3 million. Islamabad is divided between rural and urban areas. Islamabad is a planned city. There is a high standard of development in Islamabad.

Modern Islamabad is the hub of the official government’s political, economic, business, retail, educational, sports and tourism activities. You can find many international-level educational schools, colleges, universities, and research institutions. Many companies head offices, Islamabad stock exchanges, financial institutions head offices, retail shops, shopping malls, luxury residential apartments, and clubs are in Islamabad.

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Islamabad Real Estate

Islamabad is the capital city of Pakistan. In the early days of Islamabad, the Capital Development Authority Islamabad managed its real estate projects. It includes the construction of flats, villas, houses commercial plazas, shopping malls, and related things.

Modern Islamabad has expanded its territory in the last 20 years. It helps private real estate companies and groups to invest in are Islamabad real estate market. Modern Islamabad real estate market worth is in trillions of rupees. There are many international real estate groups, including EMAAR, SARCO, Bahria Town, Park View City, Blue World City Islamabad, and Zamaan.com operate in Islamabad.

Islamabad real estate is equipped with modern tools of real estate. There are many web portals, private websites, social media, what’s app groups and real estate agent associations are in competition to generate leads and upload real estate listings.

 

 Many Islamabad real estate companies offer internships and job opportunities to real estate agents. Islamabad real estate jobs are open to everyone. Islamabad real estate creates thousands of jobs for real estate agents. Islamabad real estate agents association was formed in 2020. this association is helpful for real estate agents' betterment.

 

Author's Statement    

Property Prices has been increasing in Islamabad since 2010 gradually.However,You can see in graph, It was a sudden jump in prices from mid of year 2021 to early 2023. It was not a economy boost in that period. Its happened because of real estate bubble.Government announced real estate amnesty scheme in Pakistan.It allowed people to investment in Islamabad real estate.

 

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Housing Societies in Islamabad Real Estate

In Islamabad, there are 74 housing societies registered with the Capital Development Authority. However, there are many issues with NOCs. It includes public and private real estate societies. Prominent housing s are;

1. Bahria Town Islamabad Enclave
2. Gullberg Islamabad
3. Parkview City Islamabad
4. Islamabad Cooperative Housing Society
5. Naval Encourage Forms
6. Islamabad Golf City
7. Blue World City Islamabad

Product Line of Housing Societies in Islamabad Real Estate Market

In Islamabad real estate market all private housing societies are under CDA Islamabad. However, they are owned by private owners.

All housing societies offered residential plots, commercial plots, Luxury apartments, and Farmhouses.
Residential Plots: Housing societies offer 3 Marla, 5 Marla, 7 Marla, 10 Marla, 12 Marla, 20 Marla, and 40 Marla plots, semi-developed apartments and villas. Commercial Plots: Commercial plots include 3 Marla, 5 Marla, 8 Marla, 10 Marla, 20 Marla, and more sizes of plots for commercial shops, cooperative offices, and luxury apartments
 

Farmhouses in Islamabad: To enjoy the royal living standard of life in Islamabad. Many Private developers offer 5,10 and 20-kanal farmhouses.

Islamabad Luxury Real Estate

Real estate clients and investors like to invest in luxury real estate in Islamabad in 2024. The trend of luxury real estate apartments of 1, 2, and 3 bedrooms is common amongst real estate clients and investors. Living trends in Islamabad are changing. Smart living is the future of capital city residents. It attracts developers to develop luxury real estate. In terms of investment, Luxury real estate is affordable in Islamabad.

Luxury real estate developers offer all amenities and services to their real estate clients and investors. So in the future, it expects that the trends of luxury real estate will grow in Islamabad.

Prices of luxury real estate start at 7000 PRK per SQFT to 100,000 SQFT. It depends on the area's land market value.

• Silver oaks luxury apartments
• The Garden Residence Luxury Apartments
• The Centaurs Islamabad
• Sukh Chayn Residence
• Pine Heights Luxury Apartments
• River walks Luxury Apartments
• One Piccadilly

External Factors Impact Islamabad Real Estate Market 2024

External business environment affects real estate business. The real estate industry depends on foreign investment officially and privately. There are the following external factors affect the Islamabad real estate market in 2024.

1. Political Instability: Politically Pakistan is unpredictable country. The political situation always fluctuates. Many political forces make a playground in Islamabad for their political agenda. It costs heavily in the Islamabad real estate market.
2. Economic instability: Pakistan faced political instability in the past causing poor economic growth. The country is facing high exchange rates, poor local currency value, and a lack of foreign investment affected the Islamabad real estate market badly in the past. It is expected to remain in 2024.
3. Taxes and Property Valuation: Government and financial institution FBR blindly imposes different sorts of taxes on properties. The valuation of land also unpredictable impact on sales volume.

Author’s Suggestion

The real estate market in Pakistan is only an industry where people not only local but overseas Pakistani like to invest. Business environments include political instability, economy, and tax regulations need to make them consistent.

Make a soft and tax-free policy for overseas investors. It helps to bring overseas investment in real estate.
Need to strengthen local currency in competition with US dollars.
The government needs to promote Islamabad's rural areas real estate market.

Islamabad Real Estate Market Predictions 2024

Luxury real estate trends become popular for investors in 2024. Islamabad luxury real estate projects will get an increase in sales.

1. Real estate clients demand more luxury real estate in the year 2024.  
2. Islamabad residential real estate market faces low sales volume in the year 2024. Because people do not have savings.
3. The high inflation rate and no savings keep local real estate clients away from investing in the Islamabad real estate market.
4. Real estate sales volume remains low in the first two quarters of the year 2024.
5. Private housing societies in Islamabad real estate face CDA penalties. Because private developers have issues with NOCs. As they do not have the capital resources to purchase land and develop it in 2024.
6. Private housing real estate depends on clients’ investments. It will remain low in 2024. It will affect real estate development in 2024.
7. The growth of the Islamabad real estate market depends on the external environment. It includes political stability and economic stability in the country. It’s hard to stabilize in the first 2 quarters of 2024.
8. It will be a big crackdown on real estate marketing firms and companies in Islamabad real estate market. Because unrealistic and fake marketing campaigns attract real estate customers to invest in local societies.