- September 20, 2023
- Posted by: Masters
- Category: Blog
Over the past few years, there has been one sector in Pakistan that is growing at a steady pace despite everything that the country is facing is real estate. Real estate is a niche in which people tend to buy and sell properties promising huge investment potential and creating capital for the country in return.
From the local to the international buyer, this sector is successfully attracting vast potential across the nation. Despite the political instability, social unrest and rise in inflation the country is brimming with real estate projects which are paving the way for sustainable urban developments.
Keeping in mind all of the aforementioned things it is high time for us to dive deep into the real estate market prediction in Pakistan 2023. It is pertinent to understand the market, its trends and how to cope with the whole situation both as an investor and as a buyer.
What is the Expected Market Growth of Pakistan Real Estate?
According to real estate analysts Pakistan’s real estate sector is expected to grow at a steady pace of 2.3% this year. This growth curve is subjected to affordable housing schemes and the willingness of the investors to invest more in the sector because of the capital that it keeps on promising in return.
In addition to all these private sector advancements in the real estate sector, the government is also paving the way for high-quality housing and commercial projects for the residents of Pakistan. Two of these projects which deserve to be mentioned here are as follows:
- Naya Pakistan Housing Program
- Prime Minister’s Construction Package
Back in 2020, the overall contribution of Pakistan’s real estate industry to the GDP was 2.6% and if the developers and investors keep on adding more prospects to the niche then the statistics are quite promising for everyone.
All of this also promises growth and is expanding the horizons of more jobs for the youth of Pakistan who have been struggling with jobs in recent years.
Real Estate in Lahore
Lahore which is known as the capital of Punjab is one of the most important cities of Pakistan. This one is the second most populous city in Pakistan. With the promise of a better lifestyle, educational facilities and premium health facilities – this one is a main city of focus among the masses and that is why people tend to settle in this one. From residential to commercial real estate, Lahore has witnessed sporadic growth in recent times. Here are some of the main projects that are making headlines.
- Bahria Town
- Bahria Orchard
- Al Noor Orchard
- Al Kabir Town
- Smart City Lahore
Real Estate in Islamabad
Islamabad is the capital city of Pakistan and is known for being the aesthetically pleasing city in Pakistan. That is why people tend to buy real estate in this city because it promises ease, comfort and better security prospects. It is a win-win solution for everyone.
Here are some of the real estate projects in Islamabad which are setting the benchmark just right:
- Gulberg Greens Housing Scheme
- Capital Smart City
- Park View City
- Blue World City
- Silver City Housing Scheme
- Kingdom Valley Islamabad
Real Estate in Multan
Multan is easily touted as the ancient city in Pakistan. This city has a traditional outlook and provides a very horizontal perspective of real estate developments. The developers are making sure that with the right projects, the city’s landscape is being transformed for a bigger and brighter real estate future. That is why the real estate projects which are being produced in that area are both in residential and commercial capacity.
Real Estate in Karachi
The city of lights and the hub of commercial and economic activities in Pakistan, Karachi is also a prime focus of real estate investors. The societies which are being developed in Karachi boost great potential for investment and high-end returns. The given below are two of the most in-demand projects in Pakistan especially in Karachi.
- Bahria Town Karachi
- DHA Karachi
Not only do these societies promote better residential and commercial facilities but also promote mixed-used properties such as apartments, commercial shops and offices.
Investment Opportunities for Real Estate in Pakistan in 2023
- Development of various homes which are affordable
- Premium government discounts such as tax rebates and subsidies
- Development of infrastructural projects such as CPEC
- Robust economic growth because of high population density
- Expansion of Gawadar and more incorporation of real estate projects
The Bottom Line!
The above-mentioned narrative is a strong justification of the real estate market prediction in Pakistan in 2023. From sporadic growth to more and more opportunities for economic expansion the market is expected to grow more in the coming years.