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As like every other sector, the real estate industry is also witnessing the growth of the segment for what we call, something more than basic. the Luxurious Real Estate. this term is commonly used in real estate marketing and listings. Amid all this fuzz, we wondered what luxury real estate means in Pakistan’s real estate sector. Instantly, our brains get stormed by different ideas such as huge mansions, exquisite interiors, furnished penthouses with indoor swimming pools, a villa with lush green lawns, and properties having price tags beyond 10 crores.
But what does it actually means? Honestly, There are no specified criteria to label any property with this term, except its price tag. Usually, these are the properties that make up the top 10% of the real estate market.
Commonly, luxury real estate means high-end residential properties including furnished apartments that are costly as compared to regular properties. However, we don’t believe that the sky-high price tag is the only criterion for this segment. The only thing to justify the label of any property as luxurious is top-notch amenities and a prime location with modern infrastructure to ensure a premium lifestyle.
What should ‘luxury’ real estate offer?
Many real estate gurus believe that luxury real estate should have the following features:
Prime Location
Many homes are regarded as ‘luxury’ because of their prime location. Properties in highly developed suburban gated communities are usually more pricy as compared to properties of similar size in comparatively less developed or emerging localities. Moreover, properties near prominent places like airports, beaches, commercial centers, and other significant landmarks have a high cost as their location set them apart from similar properties in other areas.
For instance, a home constructed in DHA or Bahria Town is more costly than the ones located in other neighborhoods. The reason is that these walled projects provide a better quality of life in terms of amenities, infrastructure, and facilities as compared to other areas of Karachi.
Efficient utilization of space
Efficient usage of available space is another key factor that differentiates luxury real estate from any other real estate. The size of the home doesn’t always matter to make it a luxurious home. The home can be regarded as luxurious even if it’s a two-bedroom apartment or a double-story villa. The luxury real estate is designed in such a way that it gives an impression of taller ceilings and broader rooms. The design layout also incorporates the way for sunlight to illuminate the space during day hours while ensuring ideal ventilation.
Additionally, practical approaches such as storage compartments, basements, and multipurpose spaces also add value to the modern look of the home. Realistic furnishing combined with contemporary fixtures can play an important role in making your real estate property truly a luxurious one.
Topnotch Facilities
From state-of-the-art swimming pools and excellent rooftop recreational areas and home automation gadgets and an indoor gymnasium with a designated sports area, the luxury segment incorporates a wide range of facilities and amenities. The features of luxurious homes provide the ultimate high-end living standard to its residents and that’s what makes them different from ordinary real estate.
Top Quality Construction Material
You will come across many houses which will give you the impression of being luxurious properties, but they aren’t actually luxury homes due to the use of poor-quality materials in construction. These homes may have an impressive area covered and very ideal location, but they won’t justify their prices if the material used in their construction is cheap.
Usually luxury real estate construction has high-end materials such as hardwood, copper wiring, aluminum, marble, granite, Venetian plaster, crystal, and
Privacy Matters
Home is supposed to be the safe place, the ultimate shelter for you and your family where you all together can spend time without worrying about any violation of your privacy.
Luxury real estate offers their buyer absolute privacy with top-notch lifestyle and aesthetics. The construction surrounded by huge lush green gardens, windows have tinted glasses, and smart security systems with servant quarters are some of the integral parts of luxury properties.
These were some of the features of luxury real estate in Pakistan, let’s discuss some of the handy tips to invest in luxury real estate.
How to Invest in Luxurious Real Estate?
After knowing the exciting features of luxury real estate, If you are interested in investing in luxury real estate in Pakistan, here are a few tips you may want to know before signing any deal.
UNDERSTAND THE DEMAND FOR LUXURY HOMES
Investment in real estate is widely considered the safest and most lucrative investment in Pakistan as property prices raised drastically over the years.
Real estate buyers are more inclined towards apartments, unlike in the past when plots were hotcakes. Apartments are proved to be a better option to tackle rising inflation with healthy capital gains, particularly for short or medium-term investments. Due to these reasons, apartments have seen a sharp increase in demand in the recent past.
Purchasing real estate property is a wise decision, either you’re buying it as a vacation spot for your family, or generating a passive rental income stream. The demand and popularity of luxury homes are expected to rise.
Go for a Flexible Payment Plan
Since luxury real estate offers high-class living quality hence it comes with a hefty price tag. However, instead of putting your capital all at once, go for projects which offer flexible payment plans. As per the ongoing market trend, you can easily invest in apartments and housing societies with a down payment as low as 30 percent with the convenience of paying 10 to 20 percent payable, and the remaining amount will be paid in monthly installments. Many developers are allowing buyers to make balloon payments and attractive discounts on full upfront payments.
Right Now Saya Residency offering flexible payment plan and pre launching prices before 15 February 2023.
Market Analysis
If you have already decided to invest in luxury real estate in Pakistan, you should thoroughly analyze the current market trends before finalizing your decision. You must consider factors such as the cost of living in the vicinity, the accessibility and infrastructure to basic facilities, and the general economic outlook before you lock in your decision. This analysis will not only help you invest your money wisely but also give you a clear picture of if your investment is really going to be worth it or not.
Prominently, investing in real estate in Pakistan is far more reliable than investing in stocks, as real estate has proven to be the most safe and most lucrative form of investment in recent times. Moreover, finding a tenant for such homes is more manageable, which means your property will generate a steady rental income stream for you while your ownership remains preserved.