Property Gurus are confident about advising people to invest in real estate sector of Pakistan as much as possible because this is the perfect time to do so. Figures revealed that the property prices are continuously increasing over the past couple of months after the new government took the charge.
The real estate market is booming after the PTI-led government came into power. The confidence of the people in the newly elected government helped the market to attract investors. The property prices in Pakistan was stable since the previous government introduced tax reforms back in 2016. But after the formation of the new government, the prices are increasing and expected to increase more in the coming months.
The tax reforms of 2016 severely dented the sales of properties worth over Rs 5 million as they fell under the tax net. However, properties priced below 5 million and off-plan properties saw traction.
Despite the fact that the economy of the country is not performing well, the public is very positive, and these vibes will not stay longer until the government will take substantial measures. The government has also given signs about releasing state properties. This impression makes the real estate sector more charming for investors at the moment.
The government is expected to come up with regulations. Moreover, the law and order situation in the country is also improving for the last 4 years. These positive developments indicate investors the good return on their investment.
Even though our economy is cash-based, the government can enhance the progress of the property market by introducing new regulations for the lease-market. The leasing market is highly significant for the real estate sector. Govt should make it feasible particularly before the launch of five million affordable houses for needy ones. It’s essential to make sure these houses will be given to deserving ones.