Builders inflate prices of flats

‘Apartmentarianism’ is the philosophy of real estate investors that is bolstered by the fact that 73 per cent of the apartment owners in Pakistan are not apartment dwellers. Around 75pc of apartment residents live in rental flats because of their low buying power. However, in reality, apartment living is not yet in vogue. The real asset is a high return on investment for developers backed by their demand-generating marketing strategies. The people of Karachi were the first to accept apartment living in the country. The competition has accelerated the pace of real estate development. Every month, thousands of branded apartments appear on the landscape of the city of lights since Karachiites have a higher tendency to invest in flats and condominiums. Notably, 68pc of the population of Spain lives in apartments. In the UK, 14pc of folks prefer living in apartments. Despite the fact that Karachi is a magnet for apartment lovers, around 9pc of Pakistan’s urban population lives in apartments.