Real estate in Pakistan

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Real estate in Pakistan is a growing sector of the economy of Pakistan.

Karachi map 1911.jpg


Real Estate Sector In 2020

Pakistan Real Estate sector is growing day by day. Due to COVID-19, the construction industry faced serious hurdles but on the other hand construction industry has played a vital role. The construction industry is considered the back bone of the Pakistan economy. PM Imran Khan has declared the real estate sector as a industry which will lead the nation for the better tomorrow. There are following reasons that played a vital role in the success of Real estate sector in Pakistan. PM Imran Khan government has taken some vital decisions that allowed people to invest money in real estate sector. According to the research 2020 is considered to be the best year for real estate sector in Pakistan


Real Estate Demand[edit]

Demand for residential properties in Pakistan grew in 2010, leading to increased interest among real estate developers and investors. Since prices have exceeded 10 million PKR, new housing developments are often aimed at the upper middle class. To assist the real-estate sector, the Government of Pakistan announced a reduction in interest rates on mortgage loans in 2012.[1][2]

Real Estate Categories[edit]

The five main categories of real estate in Pakistan:[3]

  • residential
  • commercial
  • industrial
  • raw land
  • special use

Real Estate Sector Worth[edit]

Moreover, many more billions are spent on buying residential and commercial plots. Pakistan real estate sector worth anywhere between $300 to $400 billion.[4] According to the Pakistan Bureau of Statistics,[5] construction output accounts for 2% of GDP, with housing representing less than half that total. With the rate of urbanization that Pakistan has been experiencing, there is a growing need for urban planning.[4][5]

Real Estate Regulatory Authority[edit]

Prime Minister Imran Khan has recommended the formation of the Real Estate Regulatory Authority, while Association of Builders and Developers is against its formation.[6]

Real Estate Education[edit]

NED University offers Master of Science in Real Estate Management.[7]

Panjwani Institute of Business Studies & Technology offers Professional Diploma in Real Estate Management[8]

NIREM (National Institute of Real Estate Management) offers Real Estate Professionals Development Program.[9]

Real Estate Agents[edit]

According to FPCCI (The Federation of Pakistan Chambers of Commerce and Industry), real estate agents are playing an important role in the economic development of the country. “Construction sector has grown by 9% which indicates its strength but this robust sector needs help of the real-estate sector,” it said in a 2017 statement.[10]

References[edit]

  1. ^ Shehryar Qureshi, "Experts Predict A Prosperous Future For Pakistan Real Estate Sector", REIClub (blog) 12 March 2013, archived at the Wayback Machine, 15 August 2013.
  2. ^ "Real estate: Abu Dhabi Group to invest $45 billion in Pakistan", The Express Tribune, 16 February 2013.
  3. ^ Chen, James. "Real Estate Definition". Investopedia. Retrieved 2020-09-11.
  4. ^ a b Atiq, Syed Khurram (2020-03-12). "Pakistan's 2020 real estate prospects and challenges". Profit by Pakistan Today. Retrieved 2020-09-11.
  5. ^ a b "Pakistan Bureau of Statistics". www.pbs.gov.pk. Retrieved 2020-09-11.
  6. ^ Raza, Syed Irfan (2020-07-24). "PM orders establishment of real estate regulatory body". DAWN.COM. Retrieved 2020-07-24.
  7. ^ "NED University of Engineering & Technology", Wikipedia, 2020-04-28, retrieved 2020-04-30
  8. ^ "Professional Diploma in Real Estate Management – PIBSAT". Retrieved 2020-04-30.
  9. ^ Limited, Set Private. "NIREM - National Institute of Real Estate Management". NIREM - National Institute of Real Estate Management. Retrieved 2020-07-16.
  10. ^ Mcgraw, Sarrah (May 30, 2017). "FPCCI vows support to real estate agents". Tribune.