How 2020 Can Be Year Of Transformation For Pakistan Real Estate Industry

How 2020 Can Be Year Of Transformation For Pakistan Real Estate Industry

With some subtle changes in attitude and industry practices, all stakeholders including the government will benefit from the real estate sector. This sector offers an excellent opportunity to develop your career, in addition to all the problems. In addition, there is a possibility for those looking to make a career in this sector to bring about a meaningful and tangible improvement in this sector. All this can be done by real estate agents and developers change of approach.

Pak Real Estate has been a nightmare all through the last year with a bevy of geopolitical, economic, and political problems and is not looking any better in 2020. However, the good thing is that things are stagnant for now, and that means room for progress.

The Current Trends In Real Estate Industry

As with other sectors of the world, the year 2020 is considered the year of transformation for the real estate industry. Implementation of new regulations and all the stakeholders’ cooperation would play a crucial role in establishing its reputation as the country’s largest and best market. It can be the most fulfilling and desirable career options in the years to come and the credit should go to those who play a vital role in ensuring more jobs are generated within the sector and real estate agents are trained and educated.

Country GDP And Real Estate Trends

Real estate has never been seen as an industry, but the fact is that it is the most evident sector of tax haven and wealth concealment that contributes significantly to the Gross Domestic Product (GDP) of the country. What this means will make this industry more efficient in terms of revenue generation, if concrete steps are taken by the government. Another image of this story is that the government does not make good use of the sector by failing to pay the attention it deserves.

The immobilization industry’s magnitude is combined with little to no regulatory structure, and most of the profits are not even announced to the government and made part of the economy. The supply and demand difference on a more technological front is just another cause of concern for people involved in investing in the industry.

Despite the growing problems in the sector and the involvement of untrustworthy developers and agents, one thing remains undeniable and that is the fact that for a variety of reasons, real estate remains one of the most promising sectors for economic and professional development. Pakistan’s real estate has developed into a critical source of the country’s economic growth, with the growth ratio more than any other country’s sectors. According to a recent report released by the State Bank of Pakistan, “The combined direct contribution of the building and housing sectors to the GDP of the country has consistently exceeded 9 percent over the past decade.”

On-Time Delivery

The lack of an on-time delivery process in Pakistan is a major issue which turns out to ruin the reputation of the real estate industry in Pakistan and makes people very reluctant to invest money in this field. There has been a significant number of stories about Pakistan’s real estate companies in which people claim to be promised a property. Often this property is expected to be delivered after a certain amount of years but has not been discussed. Even after several years, this deadline has slipped apart.

There are several industries where builders are faced with a delay in delivery. This is attributable to the pending land allotment and the unfinished development plans. This is because the entire real estate industry is dominated by unskilled and inexperienced people. The government needs to set up effective initiatives and committees to resolve the concerns that revolve around those platforms.

Getting Rid Of Scams

The real estate market is affected by uneducated individuals who pretend to be “experts” in what they do. They do not, however, have the requisite skills set to lead people in the right direction, and play a major role in curbing fraud that causes people financial losses.

If you’re naive or a newbie in this industry and you want to make an investment, you won’t find the high-risk, low-return factor because every dealer will guarantee you a stable, quick, high-return, investment. This is riskier than it seems because every Pakistani returning to the country overseas is losing their money due to lack of investigation and land fraud cases.

All of this together has really tarnished the real estate agents’ reputation. People in Pakistan save money for their families all their lives to buy a home, and it should come without fraud and other complications.

The people who claim to be experts in the real estate market and turn out to be frauds that disappear as soon as they get payments are one of the most existing problems in the real estate sector. The presence of such people in the market has made it impossible for overseas people to trust Karachi’s better real estate business, which is working hard to provide better services.

Overseas citizens are often reluctant to invest in real estate because of the misnomer of these agencies, which turns out to be a fraud.

Pakistan Real Estate – An Assuring Sector In 2020 For Economic Growth

Real estate might have been our country’s biggest industry in terms of GDP, but it will become one of the most rewarding and desired career paths in the coming years. As both the US dollar rate and the stock market stabilized, this is an excellent sign for this new year, the last quarter of 2019 came as a minor relief to the ailing economy.

Recent news reports indicate that PSE’s heartening performance is an indicator of macroeconomic stability. This is great news for those hoping for a greater interest in the country’s investment.

These developments, which hopefully will be reflected through a real estate boost, need to be complemented by excellent policymaking, more attractive offers to foreign investors, and confidence-building by real estate developers and agents on the part. If the participants in the real estate sector make a sincere effort to change their mindsets and build more confidence in the country, they can make this sector more accessible to the common man.

Pakistan’s real estate sector has many ongoing issues but it is still one of the country’s most prominent current areas. The market that revolves around Pakistan’s real estate has evolved considerably over time and new and skilled people are joining this sector, which can be seen as a sign of development.

The Protentional Of Pakistan Real Estate For 2020

The current state of the market may be a very sluggish sight, but there are many potential exciting projects and innovative ideas to be implemented in the time to come that may shine a long time on the market.

The last quarter of 2019 came as a small relief to the ailing economy for investors as both the US dollar rate and stock market stabilized, which is an excellent sign for 2020. All of these developments combined will ultimately help the real estate sector resurrect and take it to new heights. So, for the real estate sector, it all looks so pleasing and we at Globe Estate & Builders are excited and hopeful that it will be great for the people in this sector.

In a nutshell, Pakistan’s real estate is set to grow in the years ahead to a far greater extent. With the number of projects and intelligent minds trying to pave their way into this sector, the market will thrive. 2020, as a year of transformation for the real estate industry, Pakistan will inevitably surpass it.


5/5 - (3 votes)

Compare listings