Rise of Real Estate Industry in Pakistan
The real estate sector in Pakistan has been less exploited and commercialized as compared to other regional states in South Asian such as India. In the past decade, the overall situation of instability in the domain of politics and economics did now allow the government and state institutions to focus on reforming the real estate industry.
However, with the recent advancements in the different economic sectors of the country, the trend in the real estate sector is witnessing a gradual rise in the development of different real estate projects in Pakistan. For instance, the Capital city Islamabad has a number of new real estate projects being developed such as Blue World City Islamabad and Capital Smart City Islamabad.
Here are some of the details regarding this rise of real estate industry in Pakistan
Trend of Real Estate Housing Schemes
With Bahria Town becoming a successful real estate scheme in Pakistan, a number of other real estate projects have also followed suit. This means that the policies followed by Bahria Town with regards to construction and planning have been implemented by new housing societies such as Capital Smart City, Blue World City, and Park View City Islamabad.
As a result, a diverse range of real estate housing schemes in all parts of Pakistan has started to emerge. Another example of this trend is the new Ary Laguna project in DHA City Karachi which is considered to be the epitome of real estate in Pakistan
Real Estate Incentives by Government
Recently, PM Imran Khan has also announced that taxes on real estate are going to be reduced in the future so as to provide the real estate sector with impetus for growth. The government has realized the potential of the real estate sector, and it is now aiming to turn this sector into a proper industry.
Investments are now being backed by the government with minimum regulations and checks. Hence, investors are finding it easy to invest in real estate and provide the real estate industry with growth prospects.
Future of Real Estate in Pakistan
As a result of the recent rising trends in real estate industry, the real estate projects in Pakistan are predicted to growth and increase in their value and worth in the upcoming few years. As a result of this, the real estate sector in Pakistan has a brilliant future with some of the most iconic real estate housing schemes being developed in the country.
These projects are promising local and international investors with massive returns on investment, and this real estate industry is predicted to grow at rapid pace.