Karachi is the financial hub and backbone of Pakistan’s recovering economy. When the city of lights loses its economy, as it has happened over the past few years due to security threats challenges, proportionally economic effects reached deep into other parts of the country. With continuous efforts, the intervention by security forces over the last two years, Karachi again gained its popularity and returned its growth rate trajectory. The business community is witnessing a positive trend, vacancies are coming at a higher pace, and the real estate sectors have seen heightened activity. Karachi is a large city and the rising popularity due to bread earner visit here to earn some money for their family. Daily many real estate property website portal update new Apartments in Karachi and Commercial Project in Karachi. Living in apartments becomes high in the cosmopolitan city like Karachi so that it can be safely termed its apartment capital as well.
4 Reasons Why Apartment-living is Popular in Karachi
Over Population
Karachi is a magnet of attraction for thousands of people to its economic sectors, as daily countless employment opportunities arise in the industrial hub of the country. Karachi’s rising population is justified, as its excess of more than 15 million. Developers have resorted to developing apartments after the other to cater to the rising demand for housing in this bustling metropolitan city.
Affordability
In the world of supply and demand, the commodity values will rise directly in proportion to demand. For Karachi’s housing sector, demand is in large quantity. The large population of the megacity leads to an even more enormous demand for housing units, pushing the houses’ rates constantly up. However, at the same time, 3-bedroom apartments in Karachi cost almost PKR 10 million, while 2-bedroom apartments sold for an average PKR 7,000,000. As cost is always a significant consideration for many buyers, apartments do offer decent living at prices that can still be termed low compared to other houses.
Urban Trend
The popularity of apartment-style living can simply be a result of urban trends. The living standard in apartments hasn’t caught merely on in urban centers like major cities such as Lahore, Islamabad, and Peshawar, as in Karachi. People here simply prefer living in independent life over residing in apartments.
Secure
Residing in an apartment offers a sense of security. A city like Karachi where there has seen security thread troubles regularly. Apartment building provides a secure environment for children to let out their energies in the enclosed safety watch or close-knit community. Nowadays, it has become common for both wife and husband that make up thousands of nuclear families across Pakistan to work professionally to earn bread and butter. In such cases maintaining a house becomes much more hectic than looking after an apartment requiring minimum maintenance. Apartments are also much easier to keep maintain inside and out than the upkeep and resources necessary for maintaining that beautiful lawn adorning a sprawling bungalow.
