Concept of Investment in Luxury Apartments in Lahore
Understanding the concept of Luxury Apartments.
Today, the trend of real estate investment and concept of living is changing in Pakistan rapidly. This is because of development of high rise luxury, commercial and residential buildings with modern infrastructure. Also increased rate of taxes and construction material have diverted many investors to buy luxury apartments instead of plots and houses. Apartment buildings provide various opportunities to investors and residents, such as guaranteed rentals, high returns on investment, serviced and hotel apartments, health/fitness and many other amenities. Now, modern families and expats prefer to invest and live in luxury apartments, especially in big cities, like Lahore; because such buildings usually located on central locations or city centers, from where the approaches to other landmarks are easier. Another factor is safety, security and services, which are offered by developer in luxury apartments. More ever, houses are more expensive even at faraway places of city, which is encouraging the buying of apartments.
Kinds of Luxury Apartments
There are 2 kinds of luxury apartment buildings in Lahore, Which are categorized as Commercial and Residential. Both offer same services, but commercial buildings are more beneficial for living and investment prospects.
Commercial apartment buildings are usually located on prime location of wide main roads, where land prices are much expensive compare to location of residential apartment buildings. Commercial apartments can be used as hotel apartment, which in turn is lucrative for rental income. Apart from prime location, commercial apartment buildings offer more commercial amenities like brand shops, dine in restaurants, food courts, gym, spa and many others for their residents.
Examples of Commercial Luxury Apartments
There are various options in Lahore for commercial luxury apartments like Indigo heights, Downtown Mall, Square one and Zee Avenue by Ramada. Some analysis of these projects is highlighted below.
Indigo Heights is located on prime location of Noor Jahan road, Liberty market, Lahore. With 22 floors, Indigo Heights will be the highest building in Gulberg and one of the highest in Lahore. It offers hotel apartments and big commercial outlets.
Down Town Mall is located on liberty round about, on main boulevard, Gulberg , Lahore. Building is having 16 floors. The developer is offering furnished apartments (by Wing Chair) in lucrative price. Also, building plan is equipped with branded shops, food court, gymnasium, Spa and maintenance services. Downtown apartments are so far the best option, available in town.
Square One Mall building is having 12 floors, which is located on MM Alam road besides Park lane hotel, opposite Firdous market. It offers hotel apartments and commercial shops for various brands in first 3 floors.
Zee Avenue is located at the back of Faletti’s hotel , near mall road, Lahore. It is a unique project offered by Ramada (a renowned hotel chain). It offers special kind of hotel Suites, which are managed by Ramada. It offers amenities like shopping mall, food court, gymnasium and cinema.
Residential Luxury Apartments
Residential apartment buildings are mostly located near residential areas, where the roads are bit narrow and land prices there are not that expensive as Commercial land price. These buildings are mostly located in streets rather than on Main boulevards. However, residential apartment buildings also offer some amenities like roof top restaurants, Gym & Spa etc, but mostly these buildings are not equipped with brand shops and large food courts etc.
Examples of Residential Luxury Apartments
The residential apartments are usually designed for residence purpose only. There are some decent options available in Lahore for residential luxury apartments.
Indigo Boutique is 9-storey iconic residential building with unique architectural design. It is located in Gulberg 3, near Kalma chowk and Askari flats. The project offers some basic amenities like gymnasium, roof top swimming pool and restaurant, and housekeeping services.
Opus Apartments are located on the same road, on which Indigo boutique is located, near Kalma chowk and Askari flats. It is an 8-storey residential building, equipped with health & fitness club, swimming pool and rooftop garden. Apartments are available in reasonable prices over there.
Final Analysis
In order to choose a luxury apartment, you should consider all the facts and figures. You should analyze the complete building in terms of amenities, rental prospects and location. The commercial luxury apartment buildings are much effective for this purpose. Commercial apartments can be converted into hotel, which guarantees highest rentals and resale value. A prime location project like Downtown Mall and residency can be the wisely considerable option for investors. A little Price difference between Commercial and residential buildings apartments is justified, because residential land is cheaper compared to commercial building land. Another fact is commercial projects offer more amenities and return on investment.
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Saim Qureshi
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