Property prices and forecast of real estate Pakistan 2020
Nowadays, it looks difficult to buy a house in Pakistan with all the taxes and as per increment of a dollar but there’s no need to get disheartened as Government has consoled the taxes as well. Inflation is rising so do the prices of houses. In 2019, nationwide prices rose to PKR 10,875 per square feet by 5.05%, also got dropped by 3.98%. However, for every house, city, area, and location there are distinct prices per Marla or Kanal, it depends. You need to know the actual prices per square feet before buying or selling houses. Following are the prices of 5 Marla houses in distinct cities of Pakistan:
Prices in Lahore:
- DHA (Defence Housing Authority):
In DHA Lahore, there are 4,020 properties on sale including total houses (3,919), flats (97), Penthouse (3), and farmhouse (1). The current price of 5 Marla house is 14,186 PKR per square feet, increased by 1.84% of last year.
- Bahria Town:
In Bahria Town, a total of 246 properties are on sale including houses (195), flats (48) and upper portions (2). The current price of 5 Marla house is 11,657 PKR per square feet, increased by 5.33% in a year.
- Johar Town:
In Johar Town, total houses between 2-6 Marla on sale are 1,442 including houses (1,231), flats (208) and lower portions (2). The current price is 13,633 PKR per square feet increased by 6.56% since last year.
- Wapda Town:
In Wapda Town, there are 626 properties between 4-6 Marla including houses. The current price of 1-5 Marla is 12,079 per square feet changed by -1.97% in a year.
Prices in Karachi:
- DHA:
It includes 5,507 properties including houses (2,986), flats (2,498), penthouse (18), lower portions (4), upper portion (1). The current price of Marla house is 38,829 PKR per square feet altered by 6.94 percent in a year.
- Bahria Town:
In Bahria Town Karachi, almost 6,175 houses for sale including houses (4.085), flats (14), penthouses (6), upper portions (1). The current price of 5 Marla house is 9,690 PKR per square feet increased by 2.49 percent in a year.
- Gulshan-e-Iqbal:
In Gulshan-e-Iqbal, there are almost 3,275 houses for sale including houses (996), flats (1,973), upper portions (209), lower portions (69), Penthouse (28). The current price of 5 Marla house is 16,534 PKR per square feet changed by -5.15% in a year.
Prices in Islamabad:
- DHA:
In DHA, there are 1,831 properties for sale including houses (1,202), flats (621), Penthouse (7), farmhouse (1). The current price of 5 Marla house is 10,596 PKR square per feet changed by 6.09% in a year.
- Bahria Town:
In Bahria Town, total aggregate is 965 properties on sale including houses (729), flats (226), farmhouse (6), penthouse (4). The current price of 5 Marla house is 12,920 PKR per square feet altered by 3.26%.
- Pakistan Public Works Department (PWD) housing scheme:
In PWD, total houses on sale are 157 including (137) houses and (20) flats. The current price of 5 Marla house is 7,559 PKR per square feet altered by 8.33% in a year.
Future of Real State of Pakistan
Real Estate Investment in Pakistan has always been a remunerative business to secure a healthy amount of your well-earned money. The good old buying and selling phenomenon makes it easier to understand the simple rule of gaining profit in this investment sector and with the right type of land guide by your side, the chances of harvesting huge sums of turnout are like a walk in the park.
Let’s start with the types of real estate you can invest your money in, either to get benefit from the deal or a home-sweet-home for your lovely family.
Types of Real Estate Pakistan:
Reducing the vast field of real estate investment sectors in Pakistan to six major categories, we have;
- Residential grounds
- Agricultural grounds
- Industrial grounds
- Commercial grounds
- Government grounds
- Stark grounds
Overview of Pakistan’s Real Estate Market:
To know which is the best way to get the most benefits out of your investments? It is better to know about the history of real estate business in Pakistan and here, we come handy, to have a short overview ready for you to give a glance at and get to know the reasonable investment plans.
Pakistan’s Real Estate Forecast 2016:
The year of 2016 had been a golden year in the history of Pakistan’s Real Estate Market. It was a profitable year for all the sellers as well as the realtors, giving everyone’s business a friendly nudge in the upward direction. Many new local real estate agencies came into view in Pakistan in 2016 for both short as well as long term business.
Pakistan’s Real Estate Forecast 2017:
In 2017, due to the currency depreciation and skepticism over government policy, many international investors decided to stake in Pakistan’s real estate as the country has been successful in introducing pro-business reforms and boosting the current account deficit. But after the Panama Case incident, the property market crashed badly.
Pakistan’s Real Estate Forecast 2018:
In 2018, after the discoveries and leads to the case culprits made public, the estate market of Pakistan had to face a great fall. Property prices went down 25% from the peak in the beginning half of the year 2017. Properties worth millions had to be sold for thousands. Some buyers were waiting for the right time to invest when the property prices would strike their bottom lines. A price decline of about 40-50% was witnessed yet we maintained our legacy of giving the best investing advice to people.
Pakistan’s Real Estate Forecast 2019:
In the year 2019, the investment market was still struggling from the ignominious debacle. The sellers were trying to find the buyers with white money, some were holding on to the properties and waiting for the prices to take uphold. Realtors were the ones suffering the most. Half of them were forced to close their agencies by the upset situation of real estate. But we managed to provide our investors with sites that led them to secure a healthy amount of profit.
What to Expect from Pakistan’s Real Estate Market in 2020?
Moving on from 2019 to 2020, the year promises a good period for investments despite what others might say about the drawbacks. There is always more than one way to look at a glass that’s half-filled or as we would like to say, half full.
Market Status quo:
The real estate market is suffering a low curve due to all the attention towards the pandemic situation of the world. People, from all over the world are coming back to their homeland and now is the best time to invest money in real estate to secure all the valuable assets under your hold to get the most profit possible.
As for the sellers and realtors, this is a good time to cash out your priced property and get a good reasonable amount for your benefits.
Property prices and forecast of real estate Pakistan 2020
Future of Real State of Pakistan
Real Estate Investment in Pakistan has always been a remunerative business to secure a healthy amount of your well-earned money. The good old buying and selling phenomenon makes it easier to understand the simple rule of gaining profit in this investment sector and with the right type of land guide by your side, the chances of harvesting huge sums of turnout are like a walk in the park.
Let’s start with the types of real estate you can invest your money in, either to get good benefits from the deal or a home-sweet-home for your lovely family.
Types of Real Estate Pakistan
Reducing the vast field of real estate investment sectors in Pakistan to six major categories, we have;
- Residential grounds
- Agricultural grounds
- Industrial grounds
- Commercial grounds
- Government grounds
- Stark grounds
Overview of Pakistan’s Real Estate Market
To know which is the best way to get the most benefits out of your investments, it is better to know about the history of real estate business in Pakistan and here, we come handy, to have a short overview ready for you to give a glance at and get to know the reasonable investment plans.
Pakistan’s Real Estate Forecast 2016
The year of 2016 had been a golden year in the history of Pakistan’s Real Estate Market. It was a profitable year for all the sellers as well as the realtors, giving everyone’s business a friendly nudge in the upward direction. Many new local real estate agencies came into view in Pakistan in 2016 for both short as well as long term business.
Pakistan’s Real Estate Forecast 2017
In 2017, due to the currency depreciation and skepticism over government policy, many international investors decided to stake in Pakistan’s real estate as the country has been successful in introducing pro-business reforms and boosting the current account deficit. But after the Panama Case incident, the property market crashed badly.
Pakistan’s Real Estate Forecast 2018
In 2018, after the discoveries and leads to the case culprits made public, the estate market of Pakistan had to face a great fall. Property prices went down 25% from the peak in the beginning half of the year 2017. Properties worth millions had to be sold for thousands. Some buyers were waiting for the right time to invest when the property prices would strike their bottom lines. A price decline of about 40-50% was witnessed yet we maintained our legacy of giving the best investing advice to people.
Pakistan’s Real Estate Forecast 2019
In the year 2019, the investment market was still struggling from the ignominious debacle. The sellers were trying to find the buyers with white money, some were holding on to the properties and waiting for the prices to take uphold. Realtors were the ones suffering the most. Half of them were forced to close their agencies by the upset situation of real estate. But we managed to provide our investors with sites that led them to secure a healthy amount of profit.
What to Expect from Pakistan’s Real Estate Market in 2020
Moving on from 2019 to 2020, the year promises a good period for investments despite what others might say about the drawbacks. There is always more than one way to look at a glass that’s half-filled or as we would like to say, half full.
Market Status quo
The real estate market is suffering a low curve due to all the attention towards the pandemic situation of the world. People, from all over the world are coming back to their homeland and now is the best time to invest money in real estate to secure all the valuable assets under your hold to get the most profit possible.
As for the sellers and realtors, this is a good time to cash out your priced property and get a good reasonable amount for your benefits.
Here, we provide you with a list of projects that will help you boost the chances to get the maximum amount of benefits out of your investments.
- Bahria Town Lahore 5 Marla House for sale
- Houses for sale in DHA Defence Lahore
- Mortgage House Lahore
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Future of Real State of Pakistan
Government Incentives for Pakistan’s Construction Industry
The prime minister of Pakistan, Imran Khan has announced on 3rd April 2020 to re-open construction sectors for those people who have been struggling due to COVID-19 pandemic, daily wagers and laborers are highly necessitated and in need of food and income, so from 14th April 2020, the renewal of these sectors were to be pledged. Solely, for that purpose, he is conferring incentives of 1200 billion rupees. Moreover, 150 billion out of the total amount so far has been released a week ago. Due to this widespread disease, 10 million people have already applied to the AHSAS program. Basically, PM is aiding poverty-stricken people by providing them 12000 Pakistan rupees through this initiative.
Initiating status of the construction industry:
The construction sector is the second biggest sector after agriculture where several jobs are being laid out yet, the government has already re-opened the agricultural sector to provide jobs for daily wagers and Jobless and also to shut out coronavirus by the giving resources of it. The economy of Pakistan is directly proportional to the construction industry, it means ongoing work in construction industry would balance the economy in the respective circumstances. Apparently, the status of initiating construction industry is approved by the prime minister. However, the execution of this statement was counseled to be postponed until the next budget by Federal Business Revenue (FBR) and ministry. The government also announced establishing the Construction Industry Development Board (CIBD) to aid or promoting construction industry.
Incentives:
- Freedom for Investors:
He further enunciates that whoever is investing this year in construction industry would not be asked any question related to investments, the sources of income or where is the origin point of their money? So consider it a good news for those who are willing, have been allowed to invest.
- Consolation in taxes:
The fixed-tax regime had been announced by the government for construction sectors. Since, it seemed one of the complications confronted by the construction industry and they appealed to fix it. So from now on taxes will be reduced to refrain from agitating daily wagers. The taxes are supposed to be given in square yards or square feet as demanded by them. Although, if this sector helps in building the NAYA PAKISTAN HOUSING SCHEME, then the taxes will be reduced by 90% which means 10 rupees for every hundred. However, formal sectors like steel industries and cement industries are intended to give taxes respectively. And likewise, exempted for informal sectors so basically it has become very helpful for our lower-class community to get almost tax free jobs.
- Rationalization of Capital Gain Tax (CGT):
This sounds good news for those who want to sell their house as the regime has exempted capital gain tax (CGT). So the huge asset of making the construction sector, an industry and making it an organization so that the construction industry can be promoted in distinct purposes. Subsidy of 30 billion rupees is introduced to expand the structure of NAYA PAKISTAN HOUSING SCHEME.
- Reduction in sales tax:
Prime minister said both the provinces, KPK and Punjab respectively, are conjoined to diminish sales tax and already have made it less by 2%. So that it could help the buyers and sellers to some extent.
- Estimation of real estate:
The procedure of the latest estimation of urban real estate organizations of specific cities has been initiated by the Federal Business of Revenue (FBR). This process requires acceleration for the betterment of current circumstances.
Review about incentive-package for construction sector:
Though it seems a good package for the construction sector that will going to give Real Estate Market a new meaning or purpose to start, also it will manipulate builders and developers in almost everything. This package will provide a lot of job opportunities for daily wagers and jobless people to prevent hunger in this coronavirus pandemic. Due to this, Pakistan’s economy would get on board as well in such strenuous time. As a whole, this package directs the betterment of the economy assisted through the construction industry which will play a cardinal role in it. The future of real estate looks better with this bundle of incentives as it is going to offer our youth, distinct jobs and also for the other traders as well. Once, we are done with this quarantine, we’ll be seeing this industry rising in the future.
Government Incentives for Pakistan’s Construction Industry
- Published in Construction, Construction Company, Construction Company in Pakistan, News, Trends
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