Has the Infrastructure Development Failed To Boost Lahore Real Estate?

Lahore is one of the most popular cities and the provincial capital of the country. It is more advanced as compared to other cities in terms of development. Road networks and other transports are comparatively much better and developed than other cities. Lahore is the innovator of Metro Bus, Train services, Orange line metro train and green line bus.

Infrastructure work always plays a role as a weapon for the real estate sector. Development of roads always resulted in the rise of property prices due to increasing number of real estate transactions. Nowadays many remote areas are more accessible that people become started investing.

As far as development concern in Lahore, the property boom has started in 2010 due to the construction of Northern loop of Lahore Ring road. People have shown their interest on both sides of the Lahore ring road and as a result, the property prices started rising.

Now Lahore becomes the city of many infrastructure projects like orange line metro train. But unfortunately, Lahore infrastructure projects have failed to boost the property market and property prices are falling due to less investment and interest in the real estate sector.

The property prices are falling due to:

Declining Economy
Decreasing purchasing power
Political turmoil in Pakistan
Low remittances
Crackdown on black money
Depreciating currency

Now the fact is, the development factor in terms of real estate sector has failed to uplift and as a result property prices are falling up to that level that only honest taxpayers can afford to buy. So, there are no buyers in the market but only sellers. Many estate agencies have closed due to low-income generation.