Real estate is set as an exceptional asset for the growth of any country’s economy. Pakistan has played an active part in the real estate industry since 2017. Apparently, 2020 is the year where we break out of the chain. Lands and properties have undergone critical and political issues, and because of that, the growth has shut. Eventually, it has become a complete mess for the investors as they are getting no such profitable deals. In this lockdown, where everything went from the moon to earth, the government has to play its part accordingly.
Along with that, the government policies have confused the brokers and the investors as well. If you find properties in Islamabad worth $300-$400 billion in Pakistan, it will hold no significance. As far as the economic, financial, and political aspects are associated with the real estate industry, Pakistan will be drowning.
The world bank says, around 60-70pc of any country’s economy is contributed to the real estate sector. But if we talk about Pakistan, the government has still not exposed their play card. It is going to be a messy situation. Still, things are stagnant for now, which is a good sign, and we can expect growth in the coming years.
What Are The Core Aspects Of The Government’s Latest Policy That Affect The Real Estate Industry?
From the year 2017 till 2020, the government has developed some game-changing policies that impacted properties’ rates and economic value. The core aspects of those policies were,
- Bans were imposed on non-filers to invest in a property worth more than Rs. 5 million.
- Non-filers need to register with the federal board of revenue before investing in a property.
- The government tried to impose the investors’ tax factor, which sums up as no incentives for them.
You can count on the year 2017 for these aflutter government policies significantly impacting its economic, financial, political, and demographic aspects.
How Has The Gloomy Eyed Prime Minister Failed To Invest Righteously In The Real Estate Sector?
Real estate in Islamabad has reached a top in adding value to the country’s economy, yet some governmental lacks. The Prime minister has failed to develop a constructive budget on the real estate industry of Pakistan. It results in the loss of millions via investors.
With the enlightenment of our prime minister on the tourism sector’s growth based on a budget of real estate, things have gone much messier.
The growth of real estate is expected in the coming years because of Pakistan’s increasing tourism trend. Especially in Lahore, which is a historic place to visit for tourists, hence attracting more visitors. You can check out the latest lands and properties on Saalarestate.pk at market rates.
In conclusion, we have not yet reached the height of dominancy by government policies in the real estate sector. The government is planning the structure of real estate after the lockdown. There are still chances of growth and things to settle down in Pakistan.
