2013 has begun with good news for real estate sectors in most parts of the world. Many experts believe that 2013 will play a decisive role to determine the fate of global realty market. For Pakistan real estate sector, 2013 seems to be a promising year that is likely to up lift the status of property business in the country. The hope is given by the performance of Pakistan realty sector during in 2012. The sector showed selective recovery limited to posh areas of Lahore, Karachi and Islamabad but the numbers of transactions made in 2012 were more than those recorded for 2011. A sudden increase in both prices and demand was also witnessed in most of the prime areas of leading cities.
In response to the spike in demand of residential properties, the real estate developers are once again interested in buying land and developing residential communities in the outskirts of the several major cities.Wealthy buyers and active investors are also seen buying property for sale in Pakistan, considering that this is the best time to invest in Pakistan real estate sector. With price range crossing the mark of 10 million PKR, many newly developed housing societies target upper middle class. Pakistan Government is also taking sound steps to recover the real estate sector.In this regard, the Government has announced a drop on interest rates of mortgage loans in 2012. It is considered a positive step that will encourage potential investors to invest in Pakistan properties.
While waiting for the property prices to rise further, many property owners have held their decision to sell the property. However, they must consider that,right now, the property value cannot rise beyond a certain limit. Among the investors who? are looking for properties to resell at a decent profit, only few have the patience and capacity to hold properties on long term basis. They are the ones who will eventually get due benefit from their investment. On the contrary, wealthy short timers are merely booking properties in hopes of getting higher profit. Such practice can affect the growth of Pakistan real estate because property is not a liquid asset, which can be cashed in less time.
Therefore, property investors must pursue Pakistan property market with cautious approach, fool-proof planning and exit strategy. Seeing the promising future of Pakistan real estate sector and the wide array of real estate investment options it offers, the potential investors must take advice from the property professionals. The real estate experts at Zameen.com believe that since the real estate market in Pakistan is in the development phase, the key to make profit is to choose the right location.
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