The year 2018 is going to an end and there are already many dead expectations in various sectors. The Pakistan Real estate Market is one of those business sectors in Pakistan which has suffered a lot during the past few decades due to several factors. There have come a lot of ups and downs in that sector, that is why almost all the people who are somehow associated with real estate or property business, want to know what may be next. This article has been written keeping in mind all those factors which may affect the Pakistan real estate market in the coming days. But before we discuss the Pakistan real estate market and the expected forecast of 2019, let us first revive a brief summary and overall business round up of the past years.
Summary round up of the Past Years
When we talk about the Pakistan real estate market, we are merely talking about how the Real estate sector in Pakistan has performed since the year 2001. The reason behind it is that this industry had a real up rise since that era. It was the time when Pakistan real estate market was booming until the first half of 2017 with great success. No doubt there came many ups and downs but the overall report was not so much disappointing. All the mega projects and major societies stood up in that span of time, and also the sale and purchase on small and large scale was also very much astonishing. The gap which came from time to time was very much dependent upon and because of the foreign investment. Taxes and other restrictions during the past had direct impact upon as it is a critical factor for potential foreign investment in the sector. Recently the Panama Case Decision has totally crashed the property market in in both 2017and 2018 as well.
As compared to the past, present condition of Pakistan real estate market can be declared as very much favorable for the seasoned investors. These kinds of investors very well know where, when and how to invest in the market without losing the game. It had an overall impact on the whole sector and like any other asset the prices needed to correct and reach their genuine assessment in order to gain the confidence of genuine buyers. It must be noted that genuine price correction is a directly related to the health of overall real estate market.
Due to the above factors and reasons Pakistan Real Estate Market Analysis 2018 will just act like a forecast for the Pakistan real estate market 2019.
Behavior of buyers & sellers
When talking about the Pakistan real estate market, we can merely say that it is the market of the buyer rather than the seller. It is a fact that the properties are always more than the actual number of the potential buyers. The reason behind it is that the actual buyers are just waiting for the prices to come down and to be bottomed out. It will result in their will and choice so that they can buy much cheaper properties at the end of the game. As compared to the buyers, the sellers are much more desperate to some regard as they face very much difficulty and issues in finding potential buyers. Unless there is no buyer the sellers and investors have to minimize the losses through some other gateway. The other fact after the tax reforms 2018 is that it’s really hard to find buyers with white money, and as we all know there has been announced a restriction of filers to buy property more than 50Lacs. It will play role in people with no tax record, not to buy expensive properties.
Source: Iqbal Qureshi at rightdeed.com