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23 November, 2018

Revival of Property Market in Pakistan

Features

It's not hidden to even the most ignorant eye of any individual who lives, or is even slightly associated with Pakistan, that the property market in Pakistan has taken multiple blows over the previous years. As the new Government took charge in Pakistan things went from bad to worst. 

Now as the dust is settling and the wave of National Solidarity is pushing matters towards the betterment, the property market is bound to be revived. The silver lining can be seen as the authorities are actively taking action against those who have miss-committed in the past and have shaken the trust of stakeholders. As time passes, things will get better and more clear, the signs cannot be missed. NAB and Land recovery department have already taken action again almost every Public and Government housing society in major cities of  Pakistan such as Lahore, Karachi, Islamabad & Gwadar. Ilegaly acquired land has already been recently recovered from major players in the Property market. These reforms are to set standards for all those who want to be in this business as Land developers, as we see that Safari Garden got a clean chit from NAB and LDA gave full NOC to develop and trade at full potential, after extreme scrutiny. This is finally a sigh of relief as the societies in Lahore will now be cleared one by one. Either by complying with the authorities or by paying fines and facing charges, one way or the other the housing schemes in Lahore will be regulated and in the result, the whole Property Market will be restructured. There will be proper accountability, chances of fraud and irregular market behavior will become a thing of the past. 

Property sector in Pakistan is basically where a huge sum of finance is stuck and it has been stuck for a while now. Business instability in the country forced people to buy Properties, As the demand increases the prices went higher, which created monopolies making it tough for the end user to afford a house. As the authorities grow stronger and the economic situation improves in the country and the  trust of clients  is regained, we will soon witness the Property Market thriving again at a stable pace.


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