The international port city of Gwadar is very much open for business after years of planning and development. 2019 has seen some major progress in terms of projects under the CPEC banner including the commencement of construction on Gwadar’s international airport.
Now is the time to move in terms of property investment but there is a common question that potential purchasers continue to ask. Should they buy commercial or residential property in this growing city.
Why is this an optimum time to invest in Gwadar property?
This has been the busiest year in the history of Gwadar. In March 2019, Prime Minister Imran Khan completed the groundbreaking ceremony for the city’s international airport in what was the biggest development so far. The Premier went further by announcing a host of additional projects including a desalination plant and new transport links by train and ferry.
In short, this is Gwadar’s time: The planning increases but tangible work is being carried out and while there are never going to be any guarantees, it would appear that property prices are only going to increase in the near future.
What type of property should I buy?
If you’re looking to buy a property in Gwadar purely for investment purposes, then there are two types of construction to consider. You can look through the sales lists and decide whether to buy a commercial property or a private residence and you may have already made up your mind on this point.
It largely comes down to personal preference and your own intended use: There are commercial units up for grabs with a diverse range of industries already looking to move in and take advantage of the developing landscape in Gwadar. In turn, many thousands of workers are being lined up to move in here and drive those industries forward.
What types of property are available?
If you remain undecided, the question of availability could help to sway your decision. In terms of supply, CPIC Global completed the first ever successful property handover in the city of Gwadar. As for availability, there is a total of 3,000 properties in development across 10m square feet of land so the supply is an excellent one at this stage.
The majority of those properties are earmarked for personal use and that’s a logical fact. Shops and factories occupy more square feet of land and more workers but that workforce needs somewhere to live. Therefore, in terms of future demand, it may be correct to say that residential property represents the greater long term investment.
There are no guarantees in property investment but, for those who are undecided, a residential purchase seems to be the logical approach. Supply is excellent right now and demand is increasing so there is a good starting point. Moving forward, that demand is likely to increase as more projects are announced and completed in Gwadar, leading to a sustained potential rise in domestic property prices.