The first property increases in Pakistan occurred in period of 2003-2006 you can see real estate boom, the next was in 2012-2016 and latest is in period of 2017 to 2018. This resulted inflating in prices of real estate business which followed a crash. You can see last boom which is changing property taxes. The wave came in form of black money. Now you can see another crash in real estate market. We’ve mentioned below analysis and forecast of 2018 with prices description.
Pakistan real estate market is booming in 2016 then taxes Scheme was started by Govt. in 2017 and then investment plan are started in 2017. Now we can see in 2018 with ‘turmoi’ and every investor is concerned about real estate market and behavior as now no Pakistani can make assets more than they earn. In this post, we’ve briefly discussed some points related to real estate market in Pakistan.
If you’ve luxury property (price > 2 Crores) was most affected site in 2017 and stagnation is mentioned in 2018. Price will fall and observed in 20% as its type. Some under developed projects have facing decline due to delayed possessions. Investors are preferred to invest in projects and more vigilant now.
5 and 3 Marla properties are in range of 50 lacs are not touched by real-estate crunch on regular basis in Pakistan. As you know modest budget always attracts properties which are in lowest price. Thus, stagnation is also observed however things are on track. Well-populated are also less affected. In some areas, income is plus point for property investors.
In Pakistan, prices are rising now in prime locations like Karachi, Lahore and Islamabad in demands with both clients and retailors. The prices of these properties are reaching into million dollars range. Those who own property are not selling it and waiting for higher rates. We’ve to wait and deny for buyer’s willing for current market. This is best time to invest in real estate market as many relators and firms are busy to complete their project. There’re many housing societies which are completed now in major cities.
Once seller will start selling their property then rates will be increased. A buyer should be aware of these trends and implement long term plans.