It is important to note that real estate markets are influenced by a variety of factors, including economic conditions, political stability, and social trends, among others. With that being said, here is an overview of the current real estate market trends in Pakistan:
Overall growth: Despite the challenges faced by the real estate market in recent years, the sector has shown overall growth in Pakistan. According to a report by JLL Pakistan, the real estate market in Pakistan is expected to grow at a compound annual growth rate of 4.2% from 2020 to 2024.
Increased demand for affordable housing: The demand for affordable housing is expected to increase in Pakistan in the coming years, as more people move from rural to urban areas in search of employment opportunities. This trend is likely to drive growth in the real estate market, particularly in the low- to mid-income segments.
Focus on sustainability: The demand for sustainable and eco-friendly properties is expected to increase in Pakistan, as more people become aware of the environmental impact of traditional construction methods. Developers who prioritize sustainability are likely to see increased demand for their properties in the coming years.
Shift towards digitalization: The COVID-19 pandemic has accelerated the trend towards digitalization in the real estate sector, with more people using online platforms to search for properties and conduct transactions. Real estate companies that invest in digital platforms and marketing strategies are likely to have a competitive advantage in the market.
Impact of government policies: Government policies, such as the construction package introduced in 2020, are likely to have a significant impact on the real estate market in Pakistan. The package aims to boost the construction sector by providing tax incentives and other benefits to developers, which could lead to increased activity in the market.
Overall, the real estate market in Pakistan is expected to show growth in the coming years, driven by factors such as increased demand for affordable housing and sustainable properties, as well as the shift towards digitalization. However, the market is also likely to be influenced by government policies and other external factors, which could impact its trajectory. As always, it is important for real estate professionals to stay up-to-date with the latest trends and market developments in order to make informed decisions.