Article About Lahore Real Estate.
The year 2013 has started on a positive note for real estate
sectors in most part of the world and it is a general perception that
2013 will be decisive for the fate of global realty market. For Pakistan
real estates too, the New Year promises great times.
Although
2012 did not remain a challenging year for Pakistan property yet the
sector experienced less vigorous activity. One report indicated that
property prices in some posh areas such as DHA Lahore, Bahria Town, and
Clifton increased in 2012 but property rates in Pakistan otherwise
remained stagnant. Pakistan property has already entered in a phase of
rapid development but if the government takes following three steps, it
can help the sector make a hearty comeback in 2013.
1: Bring Lifestyle Real Estate
Expectations
of people regarding living standards in Pakistan have been changed
especially in big cities. The growing middle class in the country wants
exclusive neighbourhoods that are built in unique architectures and
offer the amenities which were once considered luxuries. This makes it
essential for property developers to introduce the concept of 'lifestyle
real estate' in the country.
There had been a time when property
buyers were not much conscious about the facilities available in the
neighbourhood. However, affluent buyers now prefer investing in the
developments that offers them security, community facilities,
transportation, ideal neighbourhood and the best educational facilities
in the same locality. The reason behind the increased demand for houses for sale in DHA Lahore
and Bahria Town is that these developments have introduced the concept
of 'lifestyle real estate' but if government implements this concept on a
broader scale, it can drastically increase the demand of Pakistan
properties.
2: Overcome Energy Crises
For
every property developer in Pakistan, the important concern at the
moment is the shortage of energy in the country. Even the posh housing
societies planned in cities like Karachi, Lahore and Islamabad fail to
get gas and electricity connections due to energy shortage in the
country and hence they are left with no other option but to delay their
projects. Big property investors in the country are frustrated at this
situation because not only they are unable to invest in commercial
properties but they can't even enjoy a comfortable lifestyle in the
country.
Despite the fact that Pakistan real estate offers
competitive returns and quick capital appreciation, many people are
inclined to invest in sectors other than real estate due to impeding
energy crises and rapidly growing inflation. Government needs to
immediately fix power crisis and issue related to it as the management
of the country's economy in 2013 is also dependent on it.
3: Attract Foreign Investment
In
addition to overcoming energy crises, if the government relaxes the
documentation requirements and welcomes the foreigners to invest in its
property sector, not only this investment would flourish Pakistan real
estate sector but restore the confidence of local investors.
Pakistan real estate already has a lot of potential to show tremendous growth
and if the government takes above mentioned steps, the sector can make a
roaring comeback in 2013.
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