The land plays a vital role in the development of society. If a majority of the population has access to adequate housing, they are more likely to participate economically, socially and politically in their communities. When we think about real estate future in Pakistan, it is considered as one of the adorable platforms for buying and selling of real estate project. It holds a very bright future in Pakistan. It invests $5.2 billion in the construction of real estate projects on a yearly basis. Everyone wants a Better place or home for living. Many new residential plazas, commercial plazas and towns are built in our country. The economic condition of real estate in Pakistan is good now a day. You can secure your future by investing real estate projects, it is a wonderful investment option to secure your financial investment.
Here are some points that will explain more history and give an idea about the future of real estate in Pakistan:
A Glimpse of past years
Real estate industry of Pakistan faced rapid changes and ups and downs from past some years. It’s because there are many factors that affect the real estate prices and policies. From Government imposed rules and regulation to the changing scenario of political and economic environment, everything has an impact on property. The financial crunch of 2008 has badly affected almost every country on the globe. The whole world witnessed the collapse of Dubai economy as the financial crisis hit it. But fortunately Pakistan, being a developing country did not take much effect from the crisis. Experts believe that this was either due to stagnant property prices in Pakistan for the last six years or due to the fact that economy of Pakistan was not depending on real estate sector, until 2008.
Shortcomings
The only negative aspect is gas and electricity crises. The builders were pessimistic and reluctant to begin new projects due to short supply of power resources. The government had imposed a ban and restricted SNGPL from providing gas services to newly developed housing societies. Reason for this ban is a shortfall of Sui gas in the country. Electricity conditions are the same. The ban is not lifted yet so developers have to wait for permission or else they have to build their own power supply production units and this boost up the cost of projects. But the Buyers and investors have mixed views about the current performance of Pakistan’s real estate.
Favorable Circumstances
The industry experts and Pakistani realtors are optimistic about the future of the real estate market because Government of Pakistan is now vigilant in solving the issues of real estate sector as soon as possible. With the government measures to eliminate terrorism and its efforts to eradicate violence in the country, it is expected that the prevailing law and order of the country will soon improve in the near future. It will build trust among aspirants and investors of property and would encourage them to invest in real estate properties.
Growth aspects
Real estate projects are now the Fastest Growing sector of the economy of Pakistan. It is the real investment option for overseas and local investors looking for a place to place their holdings. Although Financial Crises of 2008 badly affected the real estate industry all over the world, as well Pakistan, but 2016 is providing the best opportunities for investments because many changes are happening in this sector to keep both buyer and seller interests. The rates of building and apartments are affordable and it’s a good time to invest in this sector.
This world is a global village now and information technology sector is burgeoning like never before. Older trend of looking for traditional realtors is changed and online systems have taken over its place. If you are looking to buy, sell or rent a property in Pakistan, then nbr.com.pk is your remedy for all issues. It has an online platform where plenty of listings are posted every day with complete and accurate information and media without any listing fee.
