Problems Faced by Quetta Real Estate Industry and Its Future Growth Prospects
Quetta, the city of orchards, is now somewhat turning into a concrete jungle like many other big cities in Pakistan. It has experienced some problems over the years after becoming provincial capital. Refugees from Afghanistan and people from tribal areas of Pakistan have put unbearable burden on Quetta. The residential areas of this city have turned into huge commercial plazas, hotels and multi-storied malls. It lacks parking facilities due to on-going massive construction work.
Problems Faced by Real Estate Sector in Quetta:
– The Law and Order Situation: The situation of law and order in the city have not been very good historically (but now however it has improved considerably and continues to do so).
– Security: Crime rate in the city is relatively high which in the past has resulted in people hesitating to invest here. But now situation is improving in this regard as well.
– Water Crisis: The electricity connections with the tube-wells were disconnected by QESCO, which created problems for the residents.
Future Growth Prospects of Quetta Real Estate:
It is no doubt that despite all these problems, Quetta has developed a lot. It is one of the fastest growing cities in Pakistan. Commercial activities are observed in every area. It has variety of commercial areas and buildings, which has increased business opportunities for everyone.
Future of this city is great in Real Estate sector because many companies are ready to launch their projects here. Property prices are rising and it’s a good sign. Top locations where you can buy or rent a commercial property in this city include areas such as, Zarghun Road, Sariab Road, Samungli Road, Baleli Road, Quetta Road and N-25 National Highway, which are all famous business roads.
Good Residential areas include City Center, areas surrounding City Center and Quetta Cantonment. These are good areas for investment purposes because of potential high returns in future. The profits are likely to be high because prices are on the lower side comparing with other major cities.
Quetta has always attracted tourists from all around the country and it is a beautiful hill station for living. Now that the security situation of the city is really improving, it is great time to invest in the local real estate.