DHA Multan Update: Development, Investment & Asking Profit
DHA Multan has made a lot of ripples in Pakistan’s property market. It took over the real estate market of Multan, slowing activity even in WAPDA Town—a scheme that dominated the city’s realty market before. It also attracted the attention of investors from all over Pakistan, so much so that several of my sources cited it as the reason market slowed in their cities for a while. Even Karachi was said to be affected because investors, according to them, were focusing on Gwadar or DHA Multan and Bahawalpur.
The current trend is upwards at the moment. The asking profit is increasing for now, and it increased particularly after the down payment, since the number of sellers went down.
Although variations exist in the market, according to one of my sources, for example, the asking profit of the plot files increased about PKR 25,000-50,000 for different sized plots just over the last weekend. A detailed breakdown of the asking own for different DHA plots are as follows:
|Residential Asking Profit|
|Plot Size||Buying (PKR)||Selling (PKR)||Booking Price (3 Year Instalments in PKR)|
|Commercial Asking Profit|
Asking profit, as noted above, differs according to different sources, so you should double-check before you buy or sell.
Expectations for the Future
Development here began just a month ago. At the moment, Sector A is being worked on and development on two more sectors is expected to begin shortly. Meanwhile, according to one of my sources, it is expected that plots may be allotted within six months.
DHA Multan is expected to continue moving upwards for the next few months, after which it may go down again before the first instalment (which is due on October 15). A lot of people have sold their property already, and some more can be expected to sell before the first instalment – which is the reason that the asking profit is expected to fall before the first instalment.
However, most plot files are now in the hands of medium to long-term investors or genuine buyers, so there won’t be many files in the market anyway.