Pakistan Real Estate || Update || Current Condition || 2019
In the last 20 Years, Pakistan real estate played well as property prices doubled almost every five years. The unusual growth was due to the huge capital inflow in real estate. But now prices are falling down over the country as things have changed. The year 2019 is a bad indication for the Real Estate sector as it is difficult to find investors in the market. Here’s why investors are Leave Pakistan Real Estate.
Real Estate Frauds:
According to NAB, there are thousands of unauthorized housing schemes in Pakistan. People have wasted their life savings due to widespread real estate Frauds. Even frauds have been reported in well-known housing schemes. Gwadar real estate frauds are the talk of every town as developers sold out the societies without having land. Due to these frauds, investors are now very careful. Even many have Converted their investments in other sectors. If you want to make a real investment in Real Estate then You Should invest in DHA Properties. This is One of the best Housing Authority which never gone in scams. If you want to invest in DHA Please Visit Estate Masters DHA Phase 6 Main Boulevard Lahore.
Related: Lahore Real Estate Turning Time
Latest Property Laws:
Pakistani Government has introduced many property laws in the current budget. According to the new property laws, firstly non-filers can’t buy property worth more than 5 Million PKR. Secondly, foreign Pakistanis have to send money within 60 days before the property transfer. Thirdly registration authorities will be fined if they process the files of non-filers. These laws have turned investments away from real estate.
The increase or decrease in interest rate has a huge impression on real estate. Low-interest rate increases the investment in the realty sector whereas the high-interest rate decreases the capital inflow. Pakistani interest rate now stands at 10.25%. The high-interest rate has failed property investments. This is because people are making more profits on fixed deposits from banks. The capital steps from real estate to banks is the major cause of property price drop.
Property Rate Increase:
On 1st February 2019, FBR put the property cost rates in 20 cities across Pakistan. The rate increase has invented the real estate transactions costly due to which volume has decreased. The day trading has almost stopped. Property valuation rate rise has slowed the market. Now only actual buyers are buying properties whereas investors are moving to other sectors.
Related: FBR Rates & Advance Tax Expenses
BlackHat Money Crackdown:
Real estate sector is usually considered as the secure haven to park the illegal money. But conditions are changing now as customers have to provide the source of income. Pakistani real Estate sector that once increased on black money is now in the drop. People can’t keep properties beyond their incomes because NAB is taking the income source. Therefore the hard accountability, investors with black money are scared of losing money.
Pakistan Real Estate Market Watch:
Pakistan Property Market is almost Fall as there are very rare buyers in the market with white money. Without black money investments, United Arab Emirates property prices have decreased by 75%. Same is appearing in Pakistan as the market is improving to the new purchasing power of buyers with white-money. Due to low transactions, many property dealers have closed their offices. Dealers claim that if property laws are not changed, real estate prices will fall by 40% in 2019.
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