Paying a Premium to Live Safely in Lahore?
KARACHI: Recently it has become official that Lahore is safer than Karachi when it comes to overall crime and city-wide safety. The findings come from a November 2016 report by Numbeo where the level of crime in Karachi is reported as a high 77.72 compared to 59.38 in Lahore. Islamabad, the country’s capital, scored a 35 rating meaning it is low for crime.
In terms of crime levels over the past three years though, both Karachi and Lahore are virtually the same scoring 61.78 versus 62.07 respectively.
People living in Karachi are increasingly worried about home break-ins. Both Karachi and Lahore recorded a rate of 55.77 and 51.75 marking a moderate threat level perceived by locals for both cities.
Corruption and bribery remain very high concerns (87.42 and 85.91) for residents of both cities; Karachi is just marginally higher.
Property crimes however, such as vandalism and theft are recorded as high in Karachi and moderate in Lahore.
“Comparing Karachi and Lahore is like comparing apples and oranges,” said Saad Arshed—managing director of Lamudi Pakistan. “Both cities offer a diverse experience and should be respected individually.”
However, the property price to income ratio in Lahore is far higher at 14.26 to Karachi’s 9.2. And mortgage as a percentage of income is significantly higher at 192 percent compared to 128 percent; meaning the price to finance a home is substantially higher. In Lahore, the price per square meter to buy a city center apartment is on average Rs 121,875 making it 36 percent higher than Karachi.
These facts and statistics indicate that the high premium being charged in Lahore may not be as justified as it is portrayed to be.