Future of Pakistan Real Estate market in 2018
Pakistan real estate market was on boom in early 2016 then Government tax scheme came in and investments started drying up in 2017. Now we are going to enter in 2018 with turmoil and every investor has concerns about real estate market behaviour. According to property pioneers, current real estate downfall is worse than 2004-5.In this blog, we have tried to portray an overview of Pakistan Real estate market.
Luxury properties (prices over 2 crores) were the most affected Areas in 2017 and still stagnation is predicted in 2018. Price fall has been observed more than 20% in this category. Many under develop projects are also facing decline because of the delayed possessions. Investors are more vigilant now and preferred to invest in onground projects.
5 and 3 marla properties which have price cycle under 50 lakhs are less touched by real estate crunch in Pakistan. Modest budget needs always attract low price properties. Though, little stagnation has observed but things are getting back on track. Already developed and well populated areas are also less affected. In well settled areas, rent income is another plus point for investors.
Pros of falling Prices
Huge downfall in real estate prices has ringed the bells for both developers and investors. Developers have realised that only way to captivate investors is to deliver on time with satisfactory development standards. Therefore development work in many upcoming projects are on rapid speed track. Low prices have also attract many new average income investors. According to many realtors, flats and apartments sales are lifted up. Easy Instalments plans have made it easy for a salary person to invest his savings in real estate.
How to deal with it
As an investor you should always be an opportunist and look at the positive side of the picture. Now property prices are lower than the past. It is the best time to park your investments. If you are looking for best results you should seek new investment destination like Gawadar, Bahria Town Lahore and Karachi, DHA and Islamabad new airport.
Don’t expect miracle overnight
2018 will not bring any big change in real estate market. Though prices are expected to be sustained in coming times. If you have already invested at high price stage and now facing price decline. There is no need to be rushed to sale your investments at low price. We recommend, wait for next 5-6 months and look for better deals.
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