Out of all the sites for development; bigger cities garner the most amount of attention. Namely amongst the big cities of Pakistan; Lahore, Rawalpindi, Islamabad and Karachi are self evident examples of Pakistan’s steady strides toward development. These big cities are the sites of most amounts of inter-state migrations. As people move to a bigger more commercially developed area to find better lifestyle and job opportunities.
In the wake of corona virus pandemic, there has been a huge influx in people moving towards smaller towns for real estate development and investment as remote work practice and entrepreneurship took a rise. This was marked by the media that created hype that this essentially marked the death of big cities in the world of real estate. With the global conditions rising back up; the trend of investing in big cities is surely going to come back stronger. Infac whenever real estate market sees a trend of decline in its investment towards bigger cities; it comes back with a greater scale of success from the investors.
In this article we compile all the reasons which contribute to he success of big cities and which is what makes them attractive for you as an investor to make profitable returns on investment off of:
Living Standards
In Pakistan, the vision of owning property has started to change as once only the size of property was associated with its standard. Nowadays; it is evident with the success of modern day villas that people enjoy smart living with more manageable living spaces. However such investment falls under the umbrella of big city developments. Whether you want a smaller or larger property; near or away from a commercial hub of the city: big cities have all that there is to offer on the market.
The ultimate goal of every Pakistani has to be to lead a luxurious and peaceful life that exudes class and luxury. Big cities are home to most amount of gated communities or luxurious developments that the investor can look towards. This can b of advantage to a business real estate investor as real estate is more often than not the game of making predictions. By simply understanding those big city developments are going to gravitate demand from their luxury: you can make great profits by investing in them.
Long story short: big cities are here to stay because they bring out the best of living experience for real estate investors.
An Increase in Number of Opportunities
With the grand scale of bigger cities expanding by the day and development rising; the number of opportunities for people also increases. Let us take the example of a real estate development happening in 2022. At first there needs to be infrastructural planning, then the construction work that will be carried out over the span of a few years. The to run the development of society there is a need of workers, mangers and security personnel; needless to say the development opens up more real estate space for investment. All this will lead to people having chances to be employed due to the new job opportunities that are created.
In the context that the market is seeing a shift where people are moving away from big cities and going towards smaller towns further makes space and opportunity for more people to move to big cities to better their lives. When slots for employment are now left vacant people are ultimately going to have a better chance at availing opportunities as competition has watered down. In a way the covid pandemic has gone a long way to help the trend of moving to big cities in the current state of market.
Increasing Affordability of Houses
With modern day developments of bi cities increasing in number the demand of property is met quite well. This leads to the property’s value becoming much more manageable. Many of the big city developments are centered around providing ease of payments through installment plans spanning over years. It also should be discussed that big cities are part of projects. These experiment with making property increasingly more affordable for the investors.
In 2022; property has become increasingly more affordable for an average investor to go towards. No longer do you have to wait and collect your life’s savings to buy property. With all the modern day utility available, people are having the easiest time they’ve ever had with property investment and it is high time to reach out and invest in the growing market.
Success of Rental Properties
Above we have discussed how the influx towards big cities is expected to increase now that the potential is being recognized; this is further going to help an investor in growing their business. As more people want to move to bigger cities an investor sees this as the ideal opportunity to buy out rental spaces within the vicinity.
Most people that are moving from smaller towns and villages towards the hustle and bustle of a city do not have the expenses to buy out their own property. It is in the best interest of such individuals to go for living in rental properties. As investors; you can expect the rental market to grow at this rate and invest in them. Particularly in the areas of big cities where there are higher number of jobs such as near a commercial hub of the city is where you should invest and set up rentals. There is great potential for anyone who wants to go for.
More Creative Opportunity
In smaller towns and cities there is a streamline way to carry out business in context of the real estate market. There is usually a set standard to what people look forward to; when you move to a big city you are catering to the demand sand needs of a much bigger audience of investors. This allows for more creativity in the investment that you can make.
You can start from a smaller scale such as buying out apartments and flats to live in. you can also invest in lone standing houses in open ended communities or a gated community, modern day villas, penthouses, farmhouses, plots, commercial real estate are all viable options to go for. When you have a bigger market that you put your money in the higher are the chances that you will find someone o sell that property to.
As an example a house in a smaller town with a more closed in culture might have a real estate market where a house with brightly colored walls are deemed unattractive to the available number of investors; on the other hand in a big city; there is a much higher chance you can sell that property to someone who finds such a trait desirable.
Better Security
Big cities have better resources and protection in emergency conditions. Consider natural disasters such as earthquakes, floods, and tsunamis. Bigger cities usually have the infrastructure in place to reduce the disastrous effects. A great example is making buildings earthquake proof. In case there are torrential rains that increase the impending risk of flooding; bigger cities due to increase development have methods to curb the effects.
Increased security in bigger cities can also be viewed in the light of facilities. Due to the well connected roads people have a much easier time to get to hospitals. Especially in ambulances wherever an emergency condition may occur. Bigger cities have a larger number of gated communities. Security is one of the most attractive features for their investors. Many of such developments are equipped fully with 24/7 shifts of security staff that is trained and armed. CCTV footage has also been a key feature to uphold a greater standard of security in such developments. The emergency response is overall much better in bigger cities.
Big Cities Offer a Stress Free Life
Due to all of the aforementioned things we have discussed in this article; it is for sure that both for an investor or a single time property buyer; big city living is going to bring less stress.
Whether we look at the better number of facilities when it comes to bigger cities. These cities offer more jobs, more creativity, a greater number of opportunities available to you, and stress free living. The security aspect is also something that greatly increases the desirability of properties here.
Many of the developments have focused this serenity and peace in living. Some have intentionally developed their residential properties away from the hustle and bustle of the big city. The goals is to be surrounded by plenty of greenery incorporated to provide an exclusive living experience. If you want a relatively stress free life: investing and living in big cities can be the option for you.
Conclusion
We hope this article was informative for you. For more articles on real estate please visit our blog on www.ssconsultancy.com.pk
