Crisis Or Opportunity - The Truth About Pakistan Real Estate Market.

 

Pakistan’s political condition has always been fragile. With the inconsistency in the political system in the country, the economy of the country could not thrive as it was supposed to be several decades earlier. Further, loans with heavy interest rates aggravated the situation, and every year, a large portion of the GDP is spent on those interests. In addition, Pakistan’s exports are half of its imports which adds further pressure on the cash-strapped economy. All issues can be resolved and handled properly but the major concern is political infighting and inconsistent policies of the various government. Considering all the above-mentioned factors, a grim picture emerged.

Most of the sectors of Pakistan’s economy are facing severe challenges and they need full-fledged consideration by the governments. The real estate sector has also been in trouble. But in recent years, it has shown unprecedented progress and supported the economy of the country. Further, the real estate sector’s assets constitute 60 to 70% of the wealth in the country and this sector is the second largest sector after the agriculture sector in terms of providing employment opportunities to people. Besides, when the real estate sector of a country grows and develops then it supports a number of other related sectors and industries in the country.

Undoubtedly, investment in real estate brings several risk factors and challenges. Most people are not well-informed and illiterate about this sector, resources are not used properly, and also there is understandably a lack of resources in our country. Else, modern technologies are not properly introduced and most people do not know their benefits. Proper education about this industry is scarce. People, who work in the real estate sector are working based on their experience and do not have the educational expertise to cater to modern requirements. So, most people do not have knowledge or confidence in investment in the real estate sector. Additionally, the imposition of numerous taxes by the government has disturbed growth and investment in this sector. As if a person buys a plot in the NovaCity Peshawar, transfer payment, gain tax, etc have been increased. So, local investors will have to pay more taxes which will decrease the confidence of investors.

Though taxes have been increased, inflation is at a peak, and buying capacity of the masses has decreased drastically. Still, the real estate sector is thriving in the country because it is considered an inflation hedge so people in this sector, somehow manage to succeed. Prices of property though have increased but this factor remains and prices of property always rise over time. So, if you invest in this sector, after a few years, your reward on investment will be quite high. Overseas investors have an edge as the hike in dollar price decreases investment expenditures on them and they can buy a property at even cheaper prices. Overseas investment increases the confidence of local investors, builders, and developers and they try to uplift the standards of their housing societies to meet their demands. For example, Nova City Peshawar Phase 1 has aimed to provide the state of the art infrastructure and facilities to its residents.

Challenges are there but the potential and prospects of the real estate sector in Pakistan cannot be overlooked. People should take advantage of investment in the real estate sector but their investment must be logical and based on proper market analysis.

Record Marketing has taken up this opportunity to guide and provide you with the finest information about Nova City Housing Society Peshawar in a bid to ameliorate the standard of living in our country.