Real Estate Investor Magazine South Africa February 2016 | Page 40

BUYING

The Best Cities

for First-Time Homebuyers

Top places to purchase your first
property in the emerging markets
BY REBECCA JONES

T

here are a range of factors that make a city
friendly for first-time homebuyer, such as
affordability, the right amentias, public transport
and a number of other alternatives. Global property
portal Lamudi lists the best cities in emerging markets
for those looking to purchase their first home.

▶

Querétaro, Mexico

This up-and-coming city on Mexico’s real estate
scene is one of the best places fo2r living and
for buying your first residence. With an astonishing
architectural legacy, as well as great job opportunities
and a quiet lifestyle two and a half hours away from
Mexico City, Querétaro is one of the best places to buy
your first home and start your own family. The average
price for a house in this city is US$165,500.

▶

Lahore, Pakistan

Lahore is the second largest metropolitan city
in Pakistan, with a rich history and culture. It is

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FEBRUARY 016 SA Real Estate Investor

considered the country’s economic, political, educational
and entertainment hub. In recent years, the real estate
sector of Lahore has expanded rapidly, with an increase
in migration to the city from the surrounding rural areas.
The city of Lahore offers several attractive and lucrative
investment opportunities for first-time buyers, including
Defence Housing Authority (DHA), Bahria Town,
Paragon Housing Scheme, Cantt and Gulberg.

▶

Depok, Indonesia

Depok has witnessed much development in
recent years, including toll access to the capital
and a commuter railway line connecting Depok to the
Greater Jakarta Area. The city also has good educational
facilities including reputable universities, as well as
recreational sites such as Margonda Street, which
is full of restaurants and shopping centers like ITC
Depok, Depok Townsquare and Margonda City Mall.
The average price for a house in this area is 8,777,778
Indonesian Rupiah per square meter (US$660 per sq m).
www.reimag.co.za