Impact of General Elections 2018 on Property Market in Pakistan

As we all know that real estate market of Pakistan has made tremendous progress in last few years, but from January-2018 the real estate market is down by approximately 15% and till now the activity is low. Finally the election day has arrived and every thing is afire and this time around the results of elections will make or break a lot of industries and policies particularly the real estate market as a lot of dealers are significant political figures who have handsomely invested in the property market of Pakistan. The real estate sector in Pakistan has become exponentially ended the prior three decades, pushing lodging past the extent of salaried class couples starting a family. Today we will talk about the impact of general elections on Pakistan’s real estate sector. Will a Shake-up expected? Or the circumstances will stay the same?

Unfortunately it is expected that the real estate sector will suffer till the new elected government will take the charge and started the operations in the capital city Islamabad. The realtors are anxious as the real estate experts predicted the real estate market will dip vertically by 50pc in case the parliament declares the budget without ensuring the variations in real estate sector.

Mr. Shaban Illahi, president of Pakistan Real Estate Investment Forum said that “The present changes can generate panic and kick-start a reverse spiral, driving genuine clients along with investors out of the market”

In the last week of April the budget 2018-19 was presented in which stated several measures to bring order in real estate sector and this was aimed for preventing sick acquired cash. This has been instrumental in expanding the extent of the casual economy by pushing lawful capital into an obscure area. In this regard, the government has projected terminating the Federal Board of Revenue (FBR) rates on property, examined for areas to end DC rates and exiled non-filers from buying property surpassing an estimation of Rs4 million. At the government level, thrust assess has been carved to one for each penny of the pronounced esteem.

It may happen, with a purchase back plan the government is consigned with the aptitude to purchase particular properties anywhere inside a half year of enlistment for double the registered cost in financial 2018-19, 75pc higher in 2019-20 and 50pc more prominent in 2020-21 and from there on.

General Election Polls for National Assembly 2018

The upcoming elections are no-doubt a tight race, with Nawaz Sharif’s Pakistan Muslim League (PML-N) against Imran Khan’s Pakistan Tehreek-e-Insaf (PTI).  These two major political parties are giving tough competition to each other. The incumbent PML-N is expected to lose ground to the PTI in Punjab province this time, where more than half of the 272 directly elected seats are located. Many PML-N candidates have changed the party and some of them have moved away before the polls, either joining the PTI or running as independents. This time Imran Khan’s Pakistan Tehreek-e-Insaf (PTI) took the lead with 4% in all over the country. Now the judgment day is 25-july-2018.

Choose your vote wisely because that will ultimately pave the foundation of new Pakistan for the next 5 years. Whoever you vote for, bear in mind we all love our nation and desire for its progress, so this time around vote for Change, A Better Pakistan. May our homeland always be united with solidarity and loyalty. And yes, DO vote! Vote Smartly people! Hoping for the best leader to win this time Insha ALLAH.

Let’s wait for the final results, sharer your opinion with us contact us at apex group we convert your dreams into reality.