Pakistan’s
property sector is poised for recovery in the second half of 2015, according to
property portal, Lamudi (www.lamudi.pk).
The
property search on the Lamudi portal for both residential and commercial
category has already increased by 54 percent in the first six months of
2015. Real estate experts from all over Pakistan are also expecting the market
to show signs of improvement, after the stalling market activity in the first
six months.
Both
real estate agents and developers have reported an increase in queries from
investors, especially from overseas Pakistanis who are back home to celebrate
Eid with their loved ones.
This
increase in property enquiries is expected to scale up in the second half of
2015 as well, notably around Eid-ul-Azha and New Year, when the overseas
Pakistanis will return to their home country again.
Saad
Arshed, Country Director, of Lamudi.pk, said: “The increase in customer queries
vouches for the optimism that investors have about the real estate sector in
Pakistan.
Its
property market is returning back to its former glory days. I would strongly
advise investors, especially short-term ones to invest in property now and sell
it off within these six months, as prices are expected to shoot up in future.”
The
economic conditions of Pakistan have also improved and with the Budget 2015,
bringing positive signs for the real estate sector in terms of relaxation in
taxes and the launch of Real Estate Investment Trusts (REITs), it is the ideal
time for investors to invest in the property market.
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