According to a recently conducted study by Lamudi.pk, house-hunters have shown a strong preference for buying property, as opposed to renting. As a matter of fact, nearly three-quarters are looking to buy rather than rent property, according to Lamudi onsite data.
For buyers, safety and security emerged as the primary reason for deciding where to live, affordability matters for the most for renters. For both buyers and renters urban area are the main focus of their property search.
Karachi, Pakistan’s metropolitan city, is the most searched location among these online property hunters. According to an analysis of search data from Lamudi’s website, the city accounts for 19.6% of searches followed by Lahore 16.9% and Islamabad 9.1%.
However, different localities emerge as the focal point for house-hunters depending on what type of property they want. For apartments, Karachi is the focal point as the country’s major bulk is located there, whereas for renting and buying of houses, Lahore secured the highest number of searches.
The following are the top five locations for buyers and renters for both apartments and houses. For buying and renting of houses, it was: Lahore followed by Karachi then the Federal Capital, Islamabad, followed by its twin city Rawalpindi and lastly Faisalabad.
Similarly for buying and renting of apartments, Karachi tops the list as 40% of the dwellings there are apartments, followed by Islamabad, Lahore, Rawalpindi and last but not the least Hyderabad, where the trend of apartments is gradually seeping in from its neighboring city, Karachi.
Country Director, Saad Arshed said: “These consumer insights help us to direct our efforts in the right direction to find our clients their dream property in their most desired location.
Moreover, as 53% of the real estate agents reported that “now” is the ideal time to invest in property, I would urge all property-seekers to follow suit and fulfill their dreams of finding the perfect home, now!.”
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