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What is the Future of Real Estate in Pakistan?

  • Published On 11-Aug-2022
What is the Future of Real Estate in Pakistan?

Pakistan since its origin has been exposed to numerous tribulations including inflation, economic stagnation, and financial instability. Particularly during the duration of 2000-2020, the GDP of the country was sputtering. These factors such as the country’s debt and inflation indicate that the money supply of the country can be raised in numerous ways; one of which is the real estate industry.

Real estate is highly infamous as it is not apt enough to adapt to changes rapidly. It is also undergoing numerous changes along with the struggle for the economy of the country to be built. Currently, the main conflict is between traditional real estate dealers and innovative investors.

The registering process began in the 1930s and 1940s, while the property markets remained unaffected during the next 40 years of development. With the gradual development, real estate has become a global industry contributing millions to the economies of countries.

With this development and progress, the principal wave of Proptech1 came during the 1980s and stayed a major hit till the 2000s. With that said, Proptech2 has also been introduced to take away the market with a huge blow.

Meta; the parent organization of Facebook has also announced making an NFT commercial center. Twitter too took a step forward and announced the facilitation of blue subscribers to link their wallets to their profiles.

The statistics show that the worth of all residential estates in Pakistan is about 1.211 trillion dollars. Talking about the future of real estate in Pakistan, the market size of residential and commercial properties is stated to be 40 billion dollars and is expected to stay the same till 2040. Studies indicate that commercial real estate is increasing by 12% per annum, while residential real estate is going up by 8% per annum.

Moreover, based on the recent report published by SECP, we could very soon rely on digital asset-backed property tech solutions. With that said, it is also worth mentioning that the modes of property transactions may also revolutionize. Many companies have introduced the facility to pay for property through cryptocurrencies. Hence, cryptocurrency is also about to revolutionize the modes of property transactions.

With all that said, we can expect a lot coming our way in the real estate industry. Not only that the industry is blooming rapidly, but the methods of transactions are also about to be revolutionized.