Pakistan real estate sector outlook positive, the multi-billion dollars industry is looking at a brighter future in 2016, despite being affected by issues such as housing shortages, increasing taxes and lack of transparency in property, according to a new report on Pakistan’s property market.
The findings were part of a new research conducted by lamudi.com, an online property portal.
The report focuses on a series of online surveys of real estate agents and customers as well as property experts’ interviews and Lamudi’s onsite data. The research examines the change in real estate trends in 2014-15, the online property-hunting trends, changes in real estate prices, the renting versus buying patterns of Pakistani house-hunters, the rising demand of sustainable homes, impact of change in oil prices on Pakistan’s real estate sector and much more.
The first survey of real estate agents examines the progress of Pakistan real estate, shift from offline to online medium and their outlook for 2016. According to the Lamudi Agents Survey, 78% believe that the outlook for Pakistan real estate is positive.
According to the Lamudi customers’ survey, more than 50% of the respondents preferred to buy a house or an apartment over renting one. Moreover, 36% of them think that sustainable features in a home are extremely important.
Saad Arshed, Country Director of Lamudi Pakistan, shared his outlook for the coming year. “I agree with the overall positive outlook of the agents with whom we work. Looking at our own pricing data as well as reports from agents around the country, the market is full of investment opportunities. Gwadar, Peshawar and Bahawalpur are great examples of investment hot spots right now.”