Real Estate Pakistan
Experts believe that a strong recovery strategy is necessary to spark the glimmer needed to stabilize the real estate investment and development sectors.
As we dive deeper into the most pressing issues overwhelming the Real Estate sector, we must backtrack it to the 2017 political and financial instability — that heavily impacted the industry. Regardless of the significant drop in inactivity, there are hopes for a rebound with the implementation of upcoming projects. Hence, even today purchase of property or land estates prove to be the best form of financial security as they offer a large capital gain.
The vitality of the real estate market weighs heavily on Pakistan’s economic growth. Whereas, the construction industry contributes approximately 2% of our economic output. And 70% of total wealth depends on its Real Estate sector. Thus, a boom in the Real Estate sector will significantly generate more employment opportunities. After all, our youth totals up 60% of Pakistan’s 220 million and growing population.
Is it safe to Invest in Real Estate amid COVID-19?
There are numerous reasons local/oversea Pakistanis invest their savings in real estate. Such as stable cash flow, tax advantages, and high investment (ROI) returns. Accordingly, high-end residential landscapes in major cities like Islamabad, Karachi, and Lahore, offer world-class amenities that are appealing to overseas nationals. And as the majority of investors are overseas nationals, the latest governmental policy grants them a one-time relief. In which case, investors are exempted from justifying their sources of income, in hopes to gain their lost confidence.
Since in recent months the Real Estate prospects have been a hot topic of discussion. It has become apparent that we must find a way to secure our goals because the gloomy forecast of our economy has left many buyers and investors at odds. Nevertheless, many indicators lead to the conclusion that a market turnaround seems promising if we squint with all optimism.