The Effects of Government Policies on the Real Estate Sector

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Real Estate industry functions in a way that affects the economy of any country and also gets affected itself by the economy of the country in return. Because of such a sensitive relation shared by both the factors the government has to formulate policies in order to maintain this collateral relation held by these elements. On one hand where these policies are formulated to maintain the balance and make the industry, at the same time these policies affect the industry too much due to which your expectations of the industry can also get affected in return.

Record Marketing is here with a brief overview of how government policies influence the real estate market.

Background:

In order to enhance the community and positive outcomes, the government formulates policies that monitor and regulate the decision-making procedure of any industry. There are several reasons behind this formulation of policies by the government which include stabilizing the economy, maintaining balance, facilitating the general public, and redistributing the incomes. Fluctuating conditions in the industry or economy may lead the government to make amendments to the policies and change them.

Why Are Government Policies Important?

According to Mackay, 2011 the government and public policies are formulated to solve the problems of the general public by providing a framework and guidance to different institutes. There are two approaches that a government can adopt in order to formulate a policy i.e. either this formulation is purely based on theory and gets done by mere talks and negotiations with experts or it is done by analyzing several stats and figures and is based on solid facts. These formulations either are precautionary measures to avoid some unpleasant happening or are implemented to overcome an already existing crisis. This also helps in setting up a guideline for future initiatives either by the government or private sectors.

Real Estate as A Measure of a Country’s Development:

Real estate is quite a broad field and has numerous branches such as industrial land, residential real estate, commercial real estate, raw land, and special use. Hence, real estate contributes to building the GDP of any country and studies show that 2% of the GDP of Pakistan’s economy is generated from real estate while the net worth of real estate in Pakistan is estimated to be about 1.5 trillion. So, it won’t be wrong to say that real estate is a measure of a country’s development.

Want to learn more about real estate? Contact us NOW at Record Marketing.

 

 

 

 

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