Analysis Of Real Estate Sector In Pakistan
The Real Estate Industry is considered one of the leading and most profitable industries in Pakistan for decades. Since Pakistan came into being, so many largest and grand societies came into existence in Pakistan. The Real Estate and Construction companies worked a lot to transform the Arid Land into Developed Cities. Most of the cities have been established and developed by the Real Estate Sector of Pakistan.
But these days many Real Estate businesses have been caught in the crisis due to COVID-19. COVID-19 is a very alarming consequence in Pakistan for the real estate business. Pakistan is suffering from many issues in 2020 like political instability, unrealistic policies, and now the worst situation of COVID-19.
Investment In Real Estate Business
If someone has money in hand and is looking for Investment. Real Estate is considered one of the major Investing sectors in Pakistan. The Real Estate Business and Construction Sector is going down in Pakistan due to the Worst Pandemic Situation of COVID-19. Foreigner Investors feel hesitant to invest and visit Pakistan due to the Non-Controlable situation of COVID-19. The cases are increasing rapidly day by day. Local and foreign investors are losing interest to invest in Real Estate Business due to the weak investor protection laws in the country. There is no proper investor protection law in Pakistan. The government has to take some necessary steps to enhance the interest of the investors to boost the economy in the best interest of the public.
Pakistan Real Estate 2020 Expectations
The population is increasing rapidly in the country and there is less attention paid by the Govt to overcome this issue. The budget for the Construction Industry is very low to meet the needs of the construction sector as a result the private sector has to take the initiatives to build New Societies. As they made many grand societies like Bahria and DHA. These are the major societies of Pakistan – developed by the Private Construction Sector. Pakistan’s Real Estate Business is suffering from the uncertain situation of COVID-19. This situation can be worst if the Govt. of Pakistan does not take measurable action to control this virus. The future of the Real Estate Business is uncertain due to the uncertain situation of Pakistan’s Economy. 2020 is not looking more successful for the real estate sector.