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Issues Faced In Real Estate Sector Of Pakistan

Issues faced in real estate sector of Pakistan

Given that there are potential investors in Pakistan looking for platforms to capitalize on their investments and gain benefits to maintain a steady future, there are uncertainties regarding Pakistan’s fluctuating economy. This begs the question: What does the future hold for Pakistan’s Real Estate sector? Below we will discuss different issues faced in the real estate sector of Pakistan.

Real estate is regarded as a critical component of global investment opportunities, with significant benefits accruing from this sector in foreign countries. However, the inconsistency of the economy has put this segment in a vulnerable position, as investors do not want to take a risk due to our government’s constantly changing reforms.

As a result, it creates a barrier between the investor and the real estate market, making it difficult to build a profitable relationship and preventing much-needed economic growth.

In all honesty, Pakistan has a lot of potential for profit in this market. However, there are some risks that we still need to overcome, and most people in this country are waiting for reforms to become concrete enough to make a profitable investment.

In addition, the government’s demand to help identify and resolve certain corruption issues that affect not only investors but also affecting the real estate industry and people who are committed to making them profitable to Pakistan’s economic growth, highlights the crises we are faced with and how we can resolve together.

For a brighter future for people in Pakistan, we should not just focus on individual motives, instead of building a community and tackling these issues faced in the real estate sector of Pakistan.

The Real Estate Industry and Our Future

People’s general desire to secure their future drives them to invest in Pakistan’s real estate sector. However, due to the previous government’s heavy taxes on the real estate sector, investment trends in real estate have shrunk, resulting in the obliteration of this sector.

Pakistan’s real estate market contributes significantly to economic growth, posting gains even as foreign direct investment falls and infrastructure spending remains tight. According to the World Bank, real estate sector assets contribute 60-70 percent of the country’s wealth – approximately USD 300-400 billion.

After agriculture, it is Pakistan’s second-largest source of employment. Apart from direct employment, it stimulates demand in over 400 industries ranging from construction (cement, steel, paint, building materials, architects, urban planners) to financial services (house financing)

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Market overregulation

Investors in this sector have been disheartened by FBR’s strict regulation (prohibition of filers, compulsory registrations of over PKR 5 million for the purchase of properties, and high property transfer tax) FBR. Although financial markets are volatile, it is not the economic indicator you might think.

However, as an investment option, the myth that the real estate sector makes a lot of money is not true. The real estate sector is becoming increasingly important in most countries where financial markets have no significant role to play in economic growth.

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The Real Estate Industry’s Future

Apart from the government’s decisions, this sector was expected to grow quickly in 2020-2021. However, the problem is far more serious this time, and it has the potential to produce a significant real estate market catastrophe in all major cities, particularly Islamabad, Rawalpindi, Lahore, and Karachi. If we want to grow we have to deal with these issues faced in the real estate sectors of Pakistan as soon as possible.

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Investing in real estate has different classes and levels; different type of investment is suited for different kinds of people. Generally, if you are a common businessman or a worker and are looking for real estate business in Islamabad then you ought to either decide to purchase a plot and sell it later or purchase a house, shop, and so forth and lease them since, this sort of venture is by and large simple and requires less beginning capital. If you are into investing in real estate and want to buy apartments in Islamabad, then Connector is the place for you to come as we can provide you with some of the best and most luxurious apartments in the town with promising returns.

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