Where does the Pakistan Real Estate Market stand in 2022

1. Where does the Pakistan Real Estate Market stand in 2022 Food, clothing, and shelter are basic necessities of every human being on earth. In fact, these needs are essential for a standard human life. Being a necessity of every individual, these three things are the major markets of the world. Most of the population of the world get their hands on these 3 one way or another to satisfy their basic needs, but every individual strives for better and better living. Like every other part of the world, these are the largest markets in Pakistan too with the real estate market with most of the share. All the direct and indirect businesses associated with real estate make up almost 70% of the GDP of the country. Real Estate Market and Pakistan According to World Bank data, Pakistan's real estate economy generates 60 to 70% of the country's wealth, both directly and indirectly. This contribution is estimated to be worth roughly around $ 700 billion. However, because this data is more than a year old, the current volume is expected to be much higher. Hundreds of new real estate companies in Pakistan and other businesses associated with it were launched in this time period. If all these businesses and undocumented parts of the industry are also included, some informal sources suggest that the current volume stands on the value of more than $ 1200 billion. However, moreover, there are also estimates that more than 56 percent of Pakistan's economy is undocumented, it's difficult to say how much more this sector contributes to the country's economy, but this volume can be many times more than 1200 Billion Dollars. Following agriculture, real estate, and its contemporary industries are i.e. steel, cement, et cetera are the 2nd biggest sectors. The Ministry of Commerce recently directed a study titled 'Study on the State of Domestic Commerce in Pakistan.' The following are the characteristics of the various findings in this review: ● Around 250 ancillary industries (such as concrete, steel, block, lumber, and building supplies) rely on the real estate sector directly. ● This sector, which includes all modern enterprises, is Pakistan's second largest employer after the husbandry and agriculture sectors. ● Pakistanis spend over 5.2 billion dollars on development each year.

2. ● Pakistan's real estate market is worth $700 billion (head of the examination at BMA Capital) ● The real estate industry’s total volume accounts for almost 1.5 times the country’s GDP. What does this volume estimate? One of the most important laws of basic economics is the “Law of Demand''. This law says that if more people want to buy something, the price of that commodity will be higher. More demand over time and raising volume are directly proportional to the expanding volume of the industry. The enormous volume of the real estate industry of Pakistan shows how much it is in demand and how much people are putting their money into it. Due to the profits it offers and being an asset from the very few assets in the world that can actually keep up with the inflation, investment in this sector is encouraged compared to any other sector. Pakistan Real Estate Market’s Future After 2015, especially from the start of 2017, this sector was showing very strong signs of decline due to certain factors. Inflation is continuously on the rise for decades and currency is devaluing which erodes purchasing power making fewer people invest in the sector. And the icing on the cake, the world was hit by the unprecedented Covid-19 pandemic. Every country and every business of the world went under lockdown. And as businesses were closed, there was a sharp decline in people’s purchasing power, especially in economically fragile countries like Pakistan. At the latest, many countries have lifted the lockdown and economies are slowly resuming but still, industries aren’t fully back on their feet. The real estate world of Pakistan is also reviving. Immediately after the government's real estate, amnesty scheme was implemented, it brought a significant shift in the real estate industry. With that, the China Pakistan Economic Corridor is playing a major role in the revival of this industry. A number of new housing societies such as Blue World City Islamabad, Rudn Enclave Islamabad, and Gwadar DHA were launched as soon as the CPEC route was finalized. Government initiatives, the revival of economies after covid, the capability of real estate to keep up with inflation, and the current inflow of investments in the industry especially from overseas Pakistanis indicate that bright years are ahead for the real estate market. With the launch of many new great projects, right now, this market is buzzing with activity and momentum which is attracting more and more people. Buying Real Estate in Pakistan in 2022 The best way to purchase property in Pakistan is where a real estate agency is acting as an intermediary between the buyer and seller. Recently, there is the emergence of very good real estate companies in Pakistan. Look out for a credible real estate agency and they will not only help you to find the perfect option as per your investment needs but will also take care of all of the investment processes for you.

3. To find a good agency, you can either ask for suggestions from people around you or take help from the internet. Simply make a search for example “list of property dealers in Islamabad'' and you will get a list of all the dealers in the locality and actual reviews about them. Final words Real Estate in Pakistan has so much potential. In fact, gold and real estate are only two investment options in Pakistan that not only keep up with inflation but also offer good short term and long term returns. Current trends show that this industry is moving towards boom, so a very good time is ahead for it in 2022.