The year 2018 resembled a bad dream for Pakistan Real Estate Sector. The property market was inconsistent decline because of the new property laws, political unsteadiness and financial emergency. The circumstance is as yet the equivalent at the beginning of 2019. This blog is composed after knowing the perspectives on real estate agents, purchasers, and dealers about the fate of Pakistan Real Estate Market.
Here is Pakistan Real Estate Forecast 2019 Market Analysis that will help everybody in settling on the correct choice about property for sale in Pakistan trends.
The sector is anticipated to see a rise in investments within 2019, particularly as there are several new development projects underway throughout the country that will affect real estate standards upon their completion. The CPEC is also flooring the way for foreign investments to come flooding in, as the land near Gwadar is developed into residential communities and housing schemes.
Presently, there is low property demand in Pakistan as few people are willing to finance in real estate sector. There are many factors that have diverted the investments from real estate sector:
Sellers are of 3 varieties. In 1st category are the sellers who have the holding influence and can wait to find the suitable purchasers. In the second category are the sellers who need money and are ready to sell properties at loss. In the third category are the skilled sellers who know that rates are falling so they are anxious to sell properties immediately to minimize the losses.
Purchasers are waiting for the correct time to buy properties due to two major reasons. Firstly, purchasers want to see the results of NAB’s analysis of illegal housing projects. Secondly, purchasers are waiting for the property rates to bottom out so that they can buy properties at very reasonable pricing.
Realtors are in the worst situation. 40% of real estate agents have closed their business because of record low revenues. The realtors who became investors have observed huge losses. Even many have even sold out their homes and cars. Everyday realtors are swapping to other businesses due to the substandard situation of property sector.
Lahore’s property market saw an escalation in property rates last year, as many positive policies and reforms were expected to turn the country’s current economic situation around. There is comparatively an increased trend of home for sale in Bahria Town Lahore after Malik Riaz case has been resolved. Next Home being an avid property portal focuses on the DHA property trends and other parts of the city to help investors in the long run.