Property prices increase by a whopping 100% in Karachi

KARACHI: The property prices in Karachi have seen an unprecedented rise of about 100 percent, making it almost an unattainable dream for the residents of the metropolis to buy property in the provincial capital.

As per media reports, the city is witnessing a surge in the number of slums owing to inadequate housing facilities. The prices have risen two-fold in areas with basic amenities such as sustained water, power, and gas supply.

According to the same reports, there is a huge influx of people from other areas of Pakistan. Areas, where the property prices doubled, include Scheme 33, Malir, Shah Latif Township, Northern Bypass, Surjani Town, and Jinnah Avenue Road.

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