Most Pakistanis see the real estate market as an excellent investment option if they have the cash on hand and are looking to make a profit. Investments in real estate are typically made with a longer time horizon, although investors rarely give this fact much thought if they have sufficient funds for their day-to-day living expenses.
Before predicting what 2022 will bring for the real estate market, let’s look back at some of the most significant events of 2021.
Situation Of Real Estate in 2021
2021 has been a turbulent year, with the market trends being unstable for the better part. . Because the new PTI government has introduced several changes to the property sale and purchase process, this is the case.
In this regard, a major change requires anyone buying a car or home for more than PKR 4 million to register with the Federal Bureau of Revenue (FBR).
The 2017 verdict in the Panama Case, which announced that Prime Minister Nawaz Sharif would no longer be eligible to hold public office, has had a significant impact on Pakistan’s real estate industry. Consequently, despite investors’ hopes for a boom in the property market of Pakistan once the new administration took office, the real estate industry has failed to achieve new heights for nearly a year.
PREDICTIONS FOR THE NEW YEAR
There may have been lulls in the real estate market during 2021 owing to political uncertainty, but that should change in the new year.
This would improve the flow of goods between the two nations. Once the project is finished, it will open up new avenues for Chinese investment in the country, particularly in the real estate sector, as more and more Chinese people will want to relocate to Gwadar and the neighboring areas to be closer to their place of employment. As the land around Gwadar is turned into housing plans and residential communities, the CPEC facilitates a corresponding influx of foreign investments. We will now review the real estate market outlook for 2019 in three main cities in Pakistan:
Lahore’s Iqbal Park and its environs as seen from above. But investors in Lahore have settled in to watch the tides turn, and even in communities like DHA, Model Town, and Johar Town, Liberty Lands’ investment inflow has been modest recently. SA Gardens, Park Avenue, Model City, Blue Town Sapphire, and Omega Residencia are a few other investment opportunities in Lahore.
The Mazar-e-Quaid is still the most recognizable building in all of Karachi. Karachi’s peace and order situation has dramatically improved thanks to the new government. As a result of all the excitement and progress we made in 2021, we expect 2019 to follow suit. Investing in Karachi’s real estate can pay off thanks to the city’s recent proliferation of new developments, including Bahria Town, ASF Housing Scheme, Fazaia Housing Scheme, Naya Nazimabad, and the newest phases of DHA City.
From the neighboring Margalla Hills, a view of the Faisal Mosque. The real estate market in Islamabad has reached new heights because of the Capital Development Authority’s (CDA) concerted efforts to create cutting-edge neighborhoods for locals. Bahria Enclave, Blue World Metropolis, DHA Islamabad, Gulberg Greens, Green Oaks, Gulberg Residencia, Khanial Homes, and Capital Smart City are just some exciting new developments in the city.
Pakistan’s real estate market is currently a buyer’s rather than a seller’s market due to the country’s relatively unsteady economy. Thus, while sellers are putting their projects up for sale in the hopes of making a profit and providing various purchasing alternatives to potential investors, the latter is waiting for conditions to stabilize before committing capital to a long-term endeavor.