The ever-dynamic real estate sector of Pakistan is witnessing a phenomenal change with luxury residences paving way into the market. In all leading cities, increasing number of people with high net worth who can afford buying plots in posh societies, opt for luxury and ultra-luxury homes.
People now do not settle down on ordinary and average looking homes equipped with all facilities and amenities, but they want eye-catching exterior, unique interior, costlier furnishings and unique architectural design as well, which can distinguish them from others living in the same society. To get this feeling, they do not get settled in for anything less than the best. Therefore, luxury designer homes have become the in-trend of the market.
Nowadays, people hire the services of architects and interior designers after buying a piece of land in posh localities of major cities. Moreover, people get indulged in planning and designing their homes in a unique manner and this is one of the reasons why majority of wealthy people prefer investing in plots as compared to buying pre-constructed homes in Pakistan. Certainly, uniqueness and individualism are the features that lacks in pre-constructed homes.
As per experts at HomesPakistan.com, the luxury homes trend has invited the elite class to invest in properties in Pakistan, who were previously eyeing luxury residences outside the country for such lifestyle options. With passing time, luxury properties are increasing in numbers and demand alike. Another factor is also noticed that prices of luxury properties in posh areas of Lahore, Karachi and Islamabad have hardly been affected on year on year basis due to surrounding factors as compared to dip in average homes’ prices in other parts of the city.
Moreover, it is also seen that now most of the people prefer living in a comfortable and luxurious life with all the world-class amenities and facilities at their disposal. Even upper-middle class is moving towards luxury residences, and constructing large and luxury homes by availing loans and other disposable income. Real estate developers have already sensed this transition and started introducing luxury and ultra-luxury homes. Ultra luxury homes are constructed in villa form and are mostly located in posh societies in Lahore, Karachi and Islamabad such as DHA, Bahria Town, and Clifton.
People want luxury homes with world class features, unparalleled both in price and style and they are ready to pay high amount for all these features. Homes are witnessing a major shift with every luxury available within the vicinity such as walk-in wardrobes, saunas, powder rooms, manicured lawns, nurseries for babies, swimming pools, gaming room, sun room, basement and underground parking.
Nowadays, people certainly want the best in everything when it comes to contemporary lifestyle. Experts at HomesPakistan are of the view that though luxury homes have caught the attention of elite class but it would not be the trend forever. Affordable homes and residential projects may not be in vogue right now but the situation would not stay same for long, because middle class income strata make the major chunk of population and they cannot afford investing in ultra-luxury homes.
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