Pakistan’s real estate industry is one of the rapidly developing industries in the economy of Pakistan since the last decade and is as yet developing at an unstoppable speed. The reason behind this rapid development and growth of the real estate industry of Pakistan is a decrease in development charges and pardon plans introduced by the Federal Board of Revenue Pakistan (FBR).
The real estate industry is never out of trend because the buyer demand in the market is always there and new developments keep happening. Laws, rules and regulations of the real estate industry are different in every country. The real estate industry of Pakistan has great importance as this industry also majorly contributes to the GDP of Pakistan.
Over the period of time, many real estate businesses and real estate agencies in Pakistan have been introduced. Real estate businesses or real estate agencies provide services such as wealth management, property management, investment advisory services, etc. to real estate investors.
In this article, we’ll be discussing the scope of the real estate business in Pakistan.
Scope Of Real Estate Business In Pakistan
In general, the real estate industry plays an important role in the economy of a country. Similarly, Pakistan’s real estate industry is also one of the key players in Pakistan’s economy as this industry has specifically benefited Pakistan for the past many years. Below we have discussed a few points that clearly define the scope of the real estate business in Pakistan.
Emerging Real Estate Businesses
With the real estate industry of Pakistan flourishing and growing at a rapid pace, new real estate agencies in Pakistan are emerging as leading businesses in Pakistan.
These real estate agencies comprise of highly trained and professional real estate agents of Pakistan that satisfy the clients’ demands and requirements.
Progency is one such real estate agency of Pakistan that has been successfully operating in the real estate industry of Pakistan for the past decade. Their team of seasoned professionals and industry experts offers high-quality, valuable guidance, information, and advice in a highly professional manner.
Stable Financial Resources
Another pro of a real estate business in Pakistan is to develop a stable source of income. By investing in real estate you can easily attain financial freedom or establish a stable financial resource.
How you ask?
When you invest in a rental property then you receive your reward of investment in the form of monthly rentals and if you purchased land to hold and later resell at the best deal then the amount you earn is your profitable reward as the return of investment.
In short, the profitability keeps changing depending on the niche of your real estate property, time and market trends etc. For example, in the recent COVID – 19 Pandemic the real estate market segments of Islamabad and Lahore of the real estate industry of Pakistan have exceptionally bloomed and prospered.
Increased Market Demand
The capital city of Islamabad attracts not only locals from across the country but also tourists as well, therefore, this in turn creates increased market demand.
Islamabad offers great career opportunities along with its serene, picturesque views all wrapped in lush green nature and peace along with lifestyle standards. Hence, professionals from across Pakistan prefer living in Islamabad as compared to other metropolitan cities of Pakistan.
Apart from this, Islamabad further connects with northern areas of Pakistan, therefore, this city has a high influx of foreign and local tourists all year round hence an increase in real estate market demand.
Great Opportunity For Investors
The real estate industry of Pakistan provides exquisite investment opportunities to the local as well as overseas Pakistani investor community. As a real estate investor, you either have short-term or long-term goals, you have invested in a rental property or bought a piece of land to hold and then sell the property. Either way, real estate investors get profitable rewards as well as new and better investment opportunities without doing much work.
In the past, fraud and scams in the real estate industry were common, hence the investor community of Pakistan hesitated to invest in Pakistan’s real estate industry.
Furthermore, with the emerging real estate agencies in Pakistan, the investor community of Pakistan has now the surety and security to invest in legally approved real estate projects.
In summary, the scope of the real estate industry of Pakistan in the future is prosperous as Pakistan is currently in the developmental stages and as long as other industries and businesses are expanding the real estate industry would also flourish with them. This is because the real estate industry never goes out of trend rather an increased market demand is seen as everyone needs a home to live in.
You can visit the Progency website for more informative blogs. You can also email us at email@example.com for any queries.