Pakistan is economically growing day by day in its housing market and has too many reasons to attract overseas investors and property developers. For this reason Pakistan is getting short of houses with the continuous rise in buyer’s demand.
In addition the government of Pakistan has brought the tax incentives for the buyers and housing scheme developers to make it more attractive for the market.
Another plus point for the market is that the prices of housing scheme in Pakistan are comparatively lesser than the neighboring countries such as India. The value of a 500 yards house in upscale area of Islamabad is half the amount of that in the same upscale in New Delhi, India showed up by researches.
Pakistan’s real estate market has high grounds for the growth as it is fairly underdeveloped area and thus provides great opportunities for the overseas buyers and housing scheme developers to invest immensely. According to them they seem to have their investment multiply manifolds over the time period of few years.
The prices of the lands and housing scheme in overall country has increased by 200% in last three years and according to the natives the prices of the real estate seems to become unaffordable in next few years.
Younger Pakistanis are more interested in buying off-plan properties as they are offered in less prices but holds profitable future almost doubles the actual investment when those land will became habitable property. The reason for buying off-plan property is indeed the fear prevailing in the society that plots and the housing scheme will get unaffordable in future at the pace at which prices are getting higher with time.
Older citizens over here in Pakistan are more interested in gated developments. They are the most popular projects here as these projects are access controlled, offers better security and payment methods are made easy through payment plans and installments. These gated projects also serve as a sign of prestige to some extent which is significantly valuable.
Gated societies are also more valuable because they are surrounded by boundary walls and security guards or gates are certainly not open for everyone to enter. Currently more than 250 gated housing societies are serving exclusively in three major cities of Pakistan.
Pakistan real estate has become more eye catching to the buyers because of the fact that Pakistan’s government has planned to ease the developers in terms of taxes exemption for three years. This has made housing scheme projects more affordable for the developers, acting as factor of speeding up the real estate market.
Pakistanis who are working abroad generally called ‘overseas Pakistanis’ are more willingly to contribute their major capital in gated societies than a land plot. Therefore, demand is comparatively very high than the supply and buyers happily pay for the luxury and premium quality.
A research of a website ‘Zameen,.com’ says that 40% of their visitors look for the gated communities from reliable and famous builders. This Immense interest has put Pakistan real estate in ‘goldilocks’ zone’ where returns multiply manifolds and still provides the opportunity of affordable accommodation in a symbolic place.