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Many people are wondering if the recent heavy rainfall and urban flooding will have any impact on the city’s real estate market.
How the destruction of heavy monsoon spells will going to hurt the market of areas like DHA, Clifton, Surjani Naya Nazimabad.
Actually, we don’t expect the current chaos in the city will drop the market rates of these areas. The reason behind this is that the recent amount of rainfall Karachi received this year is unusual and extraordinary and people don’t expect such a level of mishaps every year but those who suffered will remember for sure. Therefore, you will see a few shiny days, and all will be back to normal.
Moreover, the investments in the real estate sector in Karachi are believed to be one of the most secure and clean investments which are not that vulnerable to be influenced by recent developments. Despite the city is facing severe administrative crises the legal land with an uncontroversial profile is still one of the most valuable assets for investors.
We can say that there’ll be slight price variations depending on the area but any major change in the real estate market is unforeseen.
Such natural climatic changes can only impact the real estate market if and only if Karachi starts getting this rain on a regular basis. But that’s not the case, if we go a few years back; even a few spells of monsoon rains have become rare in the city.
As we mentioned earlier, there will be a few price variations. In those variations, we can say Surjani, Naya Nazimabad, and few adjoining areas can see a slight decline however some areas can also see the boom in rental and residential domains such as Bahria Town Phase 1, Gulshan e Maymar, Punjabi Saudagar, and other societies of Scheme 33.