Karachi has witnessed an upsurge in property prices and rental rates as the city’s real estate sector strives to accommodate the burgeoning population of the largest city in Pakistan, and the situation in November 2014 was no different.
Regardless of the fact that rental prices were increasing steadily, certain localities in Karachi continued to enjoy substantial interest from potential tenants. Tenants are usually interested in exploring various localities in Karachi that offer economical rents and safe accommodation.
Apartments for rent in Karachi are high in demand and according to search trends from Zameen.com, the top real estate portal in Pakistan, the most popular locality to rent an apartment in Karachi in November 2014 was Gulshan-e-Iqbal Town. With a growing populace, Gulshan-e-Iqbal Town provides a feasible residential option for people who are looking for a convenient place to live. In second place on the list was Gulistan-e-Jauhar, followed by DHA Karachi, Clifton and North Nazimabad, respectively.
The housing landscape and trends in Karachi have changed completely over the last few years. When it comes to renting a house in Karachi, certain localities in the past held distinct advantages that attracted people from all over the city. Among these localities, Malir Cantt, Tariq Road, Liaquatabad and Shahra-e-Faisal were highly sought-after places to reside in.
However, with progressive development taking place in Karachi, houses for rent in Malir Cantt and Shahra-e-Faisal are seeing decreasing demand and the most-searched-for localities in Karachi now are Gulshan-e-Iqbal Town, Gulistan-e-Jauhar and DHA Karachi.
Despite the poor state of law and order in Karachi, the city still stands proud as the busiest urban center of the country, defying all its problems with thriving trade and festivities. This is why the demand to reside here is high and constantly on the rise, and considering Karachi’s rental search trends of November 2014, the coming year might see a further rise in the rental prices in these most-searched-for localities.