The cost involved in possessing a luxury apartment in Lahore is a matter of interest for those who crave a high-end residence in this cultural city. Lahore, known as the cultural hub of Pakistan, has seen rapid development in the last decade, with numerous high-rise residential buildings constructed to meet the needs of people seeking to settle comfortably.
In the current era, the demand for luxury apartments has soared among the affluent class.
The cost of up-scale, high-end apartments varies sharply, depending on multiple factors. People who aspire to upscale living often ask a common question: "How much do luxury apartments cost?"
In this blog, we will explore the key elements that dictate the pricing of luxury apartments in this thriving city and give valuable insights into current market trends, helping you make a smarter decision.
Let us start without further ado!
Why Are Luxury Apartments So Expensive?
Assuming a luxury apartment as a home comes with a number of benefits, such as a high-quality lifestyle, unmatched design, premium amenities, and great neighborhood prestige. Imagine lying in the comfort of your apartment, and innumerable facilities are present just a stone's throw away.
Without even leaving the building, you can easily access well-equipped gyms to take care of your physical health and visit spas to improve your mood. The prime location of the luxury apartments allows you to access important points of the city without any hassle. Convenience, modernity, and comfort rolled into one place!
That is why the cost of luxury apartments is quite higher than that of a normal residence. Believe us, the amenities and lifestyle a luxury apartment offers are worth your money and time. Do not get overwhelmed by the price tag, and take your step toward luxury living.
Luxury Apartments In Lahore With Respect To Location
Lahore has emerged as a financial hub, making it a city welcoming to diversity. Affluent people from different cities migrate to Lahore to enjoy a good lifestyle.
They prefer to seek residence in high-end apartments that are usually located in prime areas of the city.
Prime areas are popular for offering easy access to state-of-the-art facilities, modern amenities, and unmatched architecture.
Popular Areas For Luxury Residence In Lahore:
1-Gulberg
Lying at the core of the city, Gulberg combines convenience, luxury, and a vibrant lifestyle, making it a sought-after location for luxury apartments.
2-DHA
An acronym for Defense Housing Authority, this area has long served as a coveted location for luxury apartments in Lahore.
It is well-planned and highly secure and offers a wide range of luxury apartments, from high-rise buildings to exclusive residential flats.
3-Bahria Town
Say "luxury and modernity rolled in one place," no other than Bahria town quickly leaps to the top. The epitome of modern development and known for world-class infrastructure and facilities, Bahria Town, Lahore, is a leading area where a diverse spectrum of luxurious apartments attracts people looking for a residence that goes beyond the ordinary.
Pearl One Courtyard and ABS Residency offer wonderful luxury apartments that are hard to find anywhere else.
Which Factors Influence the Cost of Luxury Apartments in Lahore?
Several factors influence the cost of luxury apartments in Lahore, each one with a particular impact on the overall price. Keep the below factors in mind while making a purchase of luxury apartments in Lahore to close a feasible deal:
1-Location:
The location of a residential apartment is considered a key factor in determining its cost. Even within the city, the price of a luxury apartment changes sharply as the location changes.
For instance, the cost per square foot in Gulberg falls in the range of 30,000 to 50,000 PKR. In DHA, which is considered synonymous with luxury living, the cost lies between 35000 to 60,000 PKR. Bahria Town is affordable to an extent, costing 15000 to 30000 PKR. Despite its lower price, Bahria town is making its mark in the luxury residence market, persuading aspiring buyers to clinch the opportunity of upscale living.
Although there are scores of luxury residential options in this prime area, Pearl One Courtyard has come up as a distinctive, sophisticated, and more affordable option.
2-Size and Layout:
The size, type, and Layout of the luxury flat greatly influence the buying cost. As the space increases, the number of amenities goes up, causing a gradual increase in price points.
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1-Bedroom luxury apartments in Bahria span 500 Sqft and cost 8 million to 11 million.
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2-bedroom luxury Apartments cover an area of 800 to 1200 Sqft and cost PKR 15 Million to 22 Million.
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3-bedroom apartments usually have an area between 1800 Sqft to 2000 Sqft and cost up to PKR 38 million to 43 Million.
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4-bedroom apartments, spanning 2300 to 2600 Sqft, are priced between 48 million to 54 million PKR.
Penthouses are a great option for people looking to enjoy a regal lifestyle and thus come with a hefty price tag. However, there is good news for penthouse lovers! Pearl One Courtyard offers a highly reasonable price tag, which is up to PKR 40-70 million.
3-Amenities and Services:
Amenities and services make up a decent proportion of the cost of calling a luxury apartment home in prime areas of Lahore city.
There are two types of amenities: basic amenities and premium amenities.
Basic amenities include security, parking, and a backup power supply. These amenities entail little cost. Premium amenities, on the other hand, make you pay the top dollar.
They usually include private pools, spas, gyms, 24/7 camera surveillance, ultra-swift elevators, concierge services, and remote-controlled room accessories.
Luxury apartments in DHA, Gulberg, Bahria Town, and Askari are well-equipped with ultra-modern amenities that transform lives.
4-View and Orientation In the Building:
The price tag is not just decided on the basis of amenities provided in the luxury apartment or its area. Here is an interesting yet surprising scoop of information: the location of the flat in the building and the view it offers also add to the cost of the luxury apartment.
Luxurious apartments resting on the edges and corners are pricey because they provide breathtaking panoramas of the outside, rekindling the association of the residents with nature. Apartments that face in-demand directions like easy come with a high price tag for the enhanced comfort they offer.
5-Repute Of the Construction Company:
The reputation and track record of the developer also have an impact on the pricing. A construction company that has successfully delivered multiple projects might be steep (pricey) when it comes to buying luxurious apartments.
The use of high-quality materials, effective approach, and surplus surveillance of fieldwork result in luxurious apartments that not only look eye-grabbing but also exhibit better performance in terms of functionality and longevity.
In turn, the price tag reaches the next level automatically. On the other hand, if you, as a buyer, get in touch with a new or novice real-estate or development company, then low prices are likely to be welcome.
However, it is important to consider only a developer who has expertise and experience in carrying out luxury apartment construction projects. Do not be overwhelmed by the price tag and make the wrong decisions.
Final Thoughts
Many factors, like location, Orientation, and amenities, influence the cost of luxury apartments in Lahore. You can set your preferences first and then finalize a decision. If you are considering different options at the same time, make sure that the best option strikes a decent balance between cost, amenities, and convenience.
Are you thinking of acquiring a luxury apartment in the city's prime location? Tell us about your favorite location in the comments below.