7 Areas to Purchase a Home in Karachi, Pakistan

Karachi is a major metropolis in Pakistan. The population of this city is approximately 14 million people and it is located on the west coast of Sindh province. It has an area of 651 km2 (250 mi2) with most of its land being occupied by residential areas. Due to its location along one of the busiest shipping routes in Asia, Karachi was once known as “The Gateway Of India”. 

Purchasing a property in Karachi, Pakistan can be tricky for expats who are not familiar with the local real estate market.  

Here are some things you need to know before buying a home here: 

1. Property Prices Are Low Compared To Other Cities In Pakistan And Overseas

If you compare prices of homes in Karachi to other cities like Lahore or Islamabad, then the average price per square foot is lower than both. This makes sense since Karachi has less space available compared to other large cities in Pakistan. For example, the price of a home in Karachi is $300/sq ft whereas the same house would cost about $500/sq ft in Lahore. Similarly, if you look at properties overseas such as London, Paris, or New York City, they are priced higher than what you’ll find in Karachi. You’d pay about $3,000/sq ft for a property in NYC while it’s only $800/sq ft in Karachi. 

2. Most Expats Buy Houses Off-Plan

Most expats prefer purchasing their property off-plan rather than buying one that is already built because they want more control over the process. They also don’t have to worry about construction delays and other issues involved with building a new home from scratch. However, buying a pre-built property comes with several drawbacks including lack of flexibility, high up-front costs, and poor quality construction. If you buy a home off-plan, then you will get to choose your floor plan, design features, fixtures, appliances, etc. This allows you to tailor your home to suit your needs better. Also, there are many builders who offer flexible financing options so that buyers can purchase their dream home without going into debt. 

3. Average Time To Build A House Is About 4 Months

A lot depends on how fast you move through the process. If you’re looking for a property that is ready to go, then buying one off-plan may be the best option for you. On the other hand, if you are willing to wait until construction starts, then buying a property that is under construction could be a good choice. There are also some developers who take between 8 – 12 months to build a house depending on the size, complexity, and location of the property. In general, houses built in coastal locations will be faster to finish than those built inland. 

4. Luxury Homes Are Highly Priced & Popular Among Expats

Luxury homes in Karachi are expensive and popular among expats due to the fact that these homes come with larger living spaces, better amenities, and more security features. Many expats prefer buying luxury homes because they allow them to enjoy a lifestyle similar to what they had back home.  

Areas To Purchase A Property In Karachi  

1. Defence 

This neighbourhood is located close to Jinnah International Airport and is surrounded by military bases, naval facilities, government buildings, hospitals, schools, universities, colleges, shopping malls, restaurants, cinemas, entertainment centres, parks, etc. As a result, it is considered to be one of the safest areas in Karachi. Properties here range from $300 – $500/sq ft. 

2. Clifton 

Clifton is located near the historical Qaid Zaman Park, Bagh-e-Jinnah, and the Pakistan National Museum. The area is well connected to commercial districts, public transportation, and international airports. There are many luxury apartments in this area ranging from $600 – $1000/sq ft. 

3. Lyari Town 

Lyari Town is located in the heart of Karachi’s industrial district. Major companies like Tata, Bombardier, and Hyundai Motor Company have offices here. This area is highly developed with modern roads, shopping malls, and sports clubs. Properties here start at $200/sq ft and go up to $500/sq ft. 

4. Jamshed Town 

Located in the centre of Karachi, Jamshed Town is a hub of activity with numerous markets, shops, banks, restaurants, hotels, cinemas, and entertainment centres. It is a popular tourist destination due to its historical significance. Properties here are affordable with an average price of $100/sq ft. 

5. Gulberg Town 

Gulberg Town is a very upscale area where all types of residential and commercial properties can be found. Some of the premium properties here include villas, townhouses, detached houses, apartment complexes, office spaces, retail stores, etc. All properties in this area are designed to meet the highest standards of quality, comfort, and safety. 

6. Kiamari Town

Kiamari Town is another safe, upscale neighbourhood located close to the airport. It is home to major international airlines, financial institutions, hospitals, educational institutes, and multi-national corporations. Properties here start at $300/sq ft. 

7. Bahria Town

Bahria Town is a planned community with various amenities such as golf courses, parks, swimming pools, sports fields, marinas, shopping malls, hotels, restaurants, cinemas, and entertainment centres. Properties here are mostly high-end luxury condos and mansions. Prices range from $1500 – $10,000/sq ft. 

Conclusion 

Purchasing a home in Karachi is challenging but it can be done successfully with patience, persistence, and knowledge. Before purchasing any property, do your homework. Check out the latest trends in real estate, talk to local agents, read reviews, etc. Once you’ve decided on your dream home, don’t forget to factor in your budget, timeline, and personal preferences when choosing your property.