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Pakistani Real Estate Facts That Will Surprise You

Pakistani Real Estate Facts That Will Surprise You

Pakistani Real Estate Facts

Pakistan’s real estate market is a popular investment choice due to the desire of people to protect their future. Due to the previous government’s high taxes on real estate in Pakistan, investment trends in the sector have diminished, ultimately resulting in its obliteration.
Pakistan’s real estate market contributes significantly to economic growth even as foreign direct investment declines and infrastructure funding remains tight. According to estimates from the World Bank, the real estate sector accounts for 60–70% of the country’s wealth. The real estate sector contributes approximately 300-400 billion dollars to the country’s wealth, according to the World Bank. 

We know the last three years have been hectic because of the Global Pandemic, as it has affected us all in some way or another. Businesses are still trying to recover from the damage caused by COVID 19. There are countless crises, including the Global Supply Chain Crisis, the Inflation Crisis, the Unemployment Crisis, and the Health Crisis.

There was also a bit of damage to Pakistan’s business sector due to the Global Pandemic, but thankfully, IT and real estate boomed. These two industries have been growing unstoppably for the last three years.

Pakistan Economic Survey reports that the Construction & Real Estate sector accounts for 2.53% of GDP and employs 7.61% of Pakistani workers. In this sector alone, GDP increased by 380 billion Pakistani rupees. In order to explain this boom, there are many factors to consider. The following are a few of them.

A Rise in The Population

As the 5th most populous nation in the world, Pakistan has a population of almost 220 million citizens. According to the 2017 Census, approximately 36.38 percent of the population lives in urban areas. Because of this population factor, land and houses are in high demand.

The Contribution of the Private Sector

The real estate sector has boomed in part due to the involvement of the private sector. There are some big names in the industry, including DHA, Habib Rafique Group, Bahria Town. They are the pioneers of Pakistani real estate.

The Government’s Policies and Support

The government policies may be opposed or favored for some reason, but one thing is certain: the policies are there. It is necessary for the government to develop long-term policies in order to broaden the tax base. As a result of taxing existing taxpayers, the tax base would be reduced as people started using cash instead of banking transactions to hide their wealth; and two, investors would move their wealth out of Pakistan, buying assets in the United Kingdom, Dubai, and investing in offshore companies to hide their wealth.

It is important to change the system methodically in order to avoid negative effects on the economy, especially on real estate.

Real Estate of Pakistan

Over the last few years, Pakistan’s real estate market has undergone a dramatic change. Getting a plot or apartment in an under-construction complex has become easier than ever thanks to premium developments and improved payment options. There are many attractive investment opportunities in Pakistan.
In CDA-approved societies, you may have a reasonable chance of striking gold in terms of land, homes, and businesses. Invest in the future and reap the rewards quickly.

Due to the fact that new projects are introduced so often, it’s hard to determine which one is the best fit for your investment. Therefore, you need the right real estate agent to guide you through these changes now more than ever. The TGA is a gathering place for professionals in the field of real estate consultancy. The following tactics may help you make the right investment selection in high-profile companies. Our team understands that real estate investing is a risky endeavor. Our fear of the real estate market is based on the amount of dishonesty we see in the market.

Advium Real Estate is the No. 1 Real Estate Agency in Skardu that simplifies your Real Estate experience and ensures hassle-free transactions.

The purpose of our company is to transform Skardu’s real estate market and to bring standards and professionalism that will strengthen the potential of the market and make the journey easier for buyers and sellers.
Our goal is to provide legal guidance to protect the interests of both Buyers and Sellers in real estate transactions.