How much we all are aware of the fact that real estate in every country holds equal and essential importance when it comes to business but there are some factors that affect the rate of growth of this business. If we talk about real estate business in Pakistan, then the elements that intervene in the elevation rate of real estate are the economic condition of the country, overseas Pakistanis that spend in the country, the taxes that government impose, interest rates, and similar factors join the list but what we still get to know is that the property business in Pakistan did not catch any lower standards which happens to be a piece of good news for all the business dealers of property.
Real Estate Business in Pakistan
Real estate business in Pakistan is favorable these days because of the economical and pocket-friendly prices of lands that are a huge plus for buyers whereas I might add, given the circumstances of the country this was not expected but after all the investigation and thorough looking at the property news of Pakistan, I can happily tell you that this is the best time to invest.
Yes, I am not and will never disagree with the fact that there still are some contributory agents that do interfere in getting your hands on the right property and it might cost you a bit or all of your investment but even then we have Real Estate agencies to guide and help through your decisions.
Now as we are considering the positive side of the situation which is better real estate business, we must acknowledge that the owners or sellers have kept the property prices low, this is not only beneficial for the investment maker but also for the seller because it helps find a better investor in less time which ultimately ends in lesser pain in the neck.
Future of Real Estate Business
So if you want to know about the future of the Property Market of Pakistan then you should know that apart from all the GDP rate and socioeconomic tightening the country is doing well in the real estate zone. As much taxes has the new government set and all the new set of rules that are now implemented in the cities might cause a problematic surge among the vendors of the land but eventually, it declares a reasonable buying and selling equation that is helpful to both, the sellers and the buyers.
One more thing about the real estate news in Pakistan is that the rate of dishonesty is still on the rise. There can be pyramid schemes to get the buyer trapped and bewitching offers for the sellers to misguide so to keep track of all these wrongdoings and also to make sure you do not fall into the hands of culprit there are real estate agencies that help buyer and seller meet and settle rest of the deal but again, there is yet no guarantee of what kind of real estate agency you run into. All you can do is to make sure things are authentic at your end.
Pakistan’s Real Estate News
As much as the politics and other entities interfere in Pakistan’s Real Estate there are high chances of it getting suppressed but unlike that, we have seen the revenue going up in the past few days. There again can be a lot of reasons for that but for now, I can contemplate that most of the changes and interventions have turned out affirmative for the Real Estate zone of Pakistan. I have gathered some statistical figures that help you understand the Pakistan real estate forecast and growth of property business.
Properties in Karachi have shown an elevation of 225% from the last five years while the city of Lahore has displayed a raise of 146% whereas the Capital city Islamabad has clearly been growing its property business by 143%.
Not only this but the experts say that if we analyze the CPEC project has also got the underprivileged area of Pakistan, Gwadar a raise of 200% which should be considered nothing but success.
Even the coming situation of pandemic did a lot of damage to the country’s economy that also affected real estate in one way or another but the government soon opened the cities for construction and that I believe brought a state of, if not growth then at least maintenance in the property buying and selling sector.
Real Estate forecast and Sector Analysis in Pakistan
Let’s conclude and talk about the real estate sector analysis in Pakistan that is again, based on all the ongoing events in the country. This way the analyses become baffling because of what factors should be acknowledged and what not creates chaos. However, one thing that should always be considered is the government reforms. Lately, we went through the crises of Bahria town Karachi but that is not the issue anymore however what can be the issue is the old methodologies and prevalence of corrupt systems.
The corrupt system not only includes a pile of fraud dealers but also the people who claim to be experts in the field of real estate, this guides the people on the wrong path and leads to monetary damage.
Next what I think is the hardest to solve is the black money investment in real estate that is done without any questioning however now the government has taken measures to stop it.
Also, the fear of investment in overseas Pakistanis takes off the real estate growth opportunities but with time this will also be eliminated and hope for betterment in the real estate sector is seen.
There are now various factors and laws being introduced by the government and the buyers as well as the sellers are happy to be part of it since new reforms are kind of a guarantee to bring change.