Current Situation of Real Estate and Property of Pakistan:
Pakistan is one the flourishing country from past few years and so its real estate and property sector which are reflecting the progress of the economy but if we discuss about the current few two or three years the situation of property and real estate is very alarming. Nowadays the Pakistan's property is facing the crisis stage. By an estimate the shortage of more than one million houses which is growing to 0.6 million and it is increasing day by day. If we take a look from other neighboring countries like India the situation of Pakistani property is better. Pakistan is currently in growing situation through property and real estate. The prices of property are becoming so high that they are touching millions to US dollars. People of Pakistan have stopped the selling in the market but hence becoming the market of selling. The sellers are waiting for the increase of property and real estate prices and waiting for the buyers. There is a need of investors in the market because sellers are increasing but buyers are almost out of scene. The real bad factor of bad situation of property is the poor land record and its maintenance. There is a need to make the record latest up to date and computerized. The record which is maintained by bribery and Patwari is still like up to their mood and temper with their interests. There is huge risk of fraudulent on transactions because of bad record or non transparent record of property.
The property buyers
Many people of Pakistan are looking at right time to invest in the market. The main reason behind it is the property projects take years to develop and complete and investor hesitate to invest. We can take a look at different housing authorities and societies which have prices in lakhs but people are not willing to sell. When they will think of selling the property the market price will go down and it will bring the change in the situation. Some people are taking home loans to buy the home and look forward to profitable market but because of slow rise in interest rate many people are in defaulting situation.
The slump situation of Property
Buyers and sellers need to be aware of the downturn or slump situation of property market. Very few buyers are looking to invest in property with long planning. A lot many investors are small investors who are looking to buy small land pieces and wanted to sell them in high rates. Most experts suggest that this situation will burst up very soon and Property Pakistan dealers are now trying the sell plots in low price. There are lot many rumors about property and real estate that big dealers are getting an alternative options to sell property so real estate situation can be changed.
The future of sell and buy property
There are rumors in the market that current situation of sell and buy property will rise and can change the trend of market situation. The current rise of prices in market can bring the relief to people who are looking for long term profitable property future.
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