The real estate sector of Pakistan, in 2020, is carrying forward the plummeting projections of 2019. The sector keeps buyers and sellers engaged in the phases of expansion, equilibrium, decline and the property prices expanding again. This is where sirmaya.com comes in to share with you the trends that are actually framing the ongoing selling and buying real estate strategies in your area.
In this short analysis, we are focusing our lens primarily on Lahore. Talking about the property purchases in the market, there has been a prominent shift from investors to genuine buyers. Now, the property files are not traded daily like stocks and shares. This means the market only has those customers who want to have a property for living. Here, we can visualize the downward trajectory in prices in real estate. Also, the volume of property transactions in DHA Lahore has declined from around 200 daily file transfers in 2016, to around 20, in 2020.
Moreover, when talking about the investors, still the picture is quite bleak. The reason being the draw out of black-money from real estate. Due to FATF pressures, black money has been curbed by the government, resulting in a decrease in property demand and a crash of prices. Pakistan’s political and economic condition plays an important and devastating role in keeping away the investors and buyers.
The properties in the hot-spots of real estate in Lahore have dwindled beyond possible limits. A decrease of about 25-55% has been observed. Eight Marla commercial plot selling at 1200 lacs (12 crore) in 2016, has no buyer today even at 500 lacs (5 crore) in 2020. The same decreasing trend has been analyzed in other areas of DHA Lahore.
Invest wisely. Strike while the iron is hot!
