Challenges in Pakistan Real Estate You Must Know
Real estate market in Pakistan is a very lucrative market with investors reaping handsome gains in both short and long term. Real estate sector also contributes a large amount to our national Gross Domestic Product or GDP.
In recent years Pakistan has seen a rise in the amount being invested in the real estate market due to the steps taken by the government, development of many new housing societies, development of infrastructure like roads, and the development being carried out by the China Pakistan Economic Corridor or CPEC. All these developments have increased the demand for real estate in Pakistan and in turn has increased the business as well. With it being a large part of Pakistan’s economy, it also comes with its own challenges. In this blog we will be discussing the challenges in the Pakistan real estate market you must know.
In the real estate market, most business has been done on the basis of goodwill and word of mouth. Rumours and misinformation can sometimes cause a recession in the market and cause a panic. So, it is important that you do not rely on these rumours and always fact check all the information you get. The second big challenge in the Pakistan real estate market is the prevalent fraudulent activity, it is important that before you invest your savings into a property you check all the information with the concerned government authority to make sure that all the paperwork is in order, and always invest in reputable housing schemes such as the Bahria Town and the Defence Housing Authority (DHA) schemes.
By doing this you will at least be free from fraudulent activity. In this day and age of technology real estate sector still mostly depends on real estate agents, this is a very slow way of doing business nowadays there are online services available such as zameen.com and many other websites which can let you know which housing or commercial investment opportunities are there and you can investigate by yourself without the need to hire a real estate agent.
The above are a few of the challenges you may face in the real estate market in Pakistan and their solutions. Real estate investment requires nerves of steel but will provide great gains in intelligent investments.
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