Will real estate prices in Pakistan decline around 2023?

The saying “Don’t wait to buy real estate, buy real estate and wait”, by T. Harv Eker, is true for some obvious reasons. If prices were supposed to fall at any time, this would never be a well-known and valid statement in the first place however as an investor you should always stay connected for best real estate investment guidance.

Real Estate prices will not decline any time soon:

In terms of real estate, 2021 has been a chaos, but it is still far from over; prices are fast rising and there is no chance that they will fall in the coming year or so. “90 percent of all millionaires become so through owning real estate”, this phrase by Andrew Carnegie dissipates all myths about declining real estate values.  To be specific about the rise of property prices, let’s take a look at the current trending statistics of DHA City as an example.

This graph shows the average statistics trend for DHA City.

Covid19 has affected nearly every sector of the country. The economy was in a similar state of flux. Despite this, Pakistani real estate investors are still investing. Many investors regarded the low interest rate as an opportunity and took advantage of it by investing in the real estate industry. With the start of a new year, everyone hopes and prays that it will be less turbulent than the previous one. Past decades prove that real estate investment lasts long.

Past Analysis show that prices are not likely to go down:

In the latter time of the previous decade, the house prices and flats in Gulshan-e-Maymar surged fivefold, positioned alongside the superhighway. The homes, marketed initially at Rs. 2 million, are now selling for more than a million rupees. Furthermore, what was formerly sparsely inhabited residential areas are today densely crowded. This congestion has prepared the way for the development of a spate of residential development outside of the superhighway and a lifestyle of secure, residential areas. This theory indicates that, if former projects can flourish this rapidly then, then new projects have a lot of future credibility. Currently, people are looking forward to Bahria town Karachi, since it is away from the hustle bustle of the city, and as a plus it’s luxurious and peaceful.

The above stats show the trend of Bahria town Karachi from May, 2021 to April, 2022. It clearly shows how appealing it is for investors.

Current Market:

If we look at the current statistics, then Bahria town Karachi and DHA are the main projects in Karachi’s real estate market. Projects like Bahria town Karachi and DHA City are bound to flourish in the upcoming times. These two societies are the two mega projects featuring many attractive and profitable properties for investment purposes. There is no restriction of nationality to invest in these two societies. In fact, the management of these societies encourages overseas Pakistani’s to invest in here.

Demand vs Supply:

With Pakistan's population growing at an inexorable rate and a scarcity of housing, there is little likelihood that prices would fall anytime soon. The demand for houses is increasing as the population is increasing, so all of this directly indicates that prices would also increase. The last few years have brought a great surge in Pakistan's real estate business. As the year passes, real estate investors and consultants are busy rebuilding and rediscovering their marketing plans and tactics in order to acquire more leads in the coming year. The real estate sector is Pakistan's fastest-growing industry, with over a hundred sectors directly or indirectly tied to it. Along with the development industry, the real estate boom will spur expansion in a range of industries. It is the most ideal investment option for both international and domestic traders looking for a safe haven for their funds.

The best is yet to come for the Real Estate owners:

Pakistan's real estate sector is expanding rapidly. In 2023, a significant economic recovery is projected. According to real estate specialists, Pakistan's real estate market will see new investments in 2023. This is due in part to the fact that the value of commercial and residential real estate has constantly increased through time. The return on investment is also significant. Investors used to reap significant returns after 4-5 years of investment. All of these elements are attracting a growing number of investors. As a result, this real estate sector will almost certainly grow in 2022 and 2023. People are more inclined to view future housing initiatives as an investment and keep it as property for sale with a big profit margin after some time. Real estate is one of those investments that never fails to pay off, especially in financial terms. Real estate investing can help you grow financially. Furthermore, it is an excellent source of permanent refuge for the family.

Invest in Real Estate now to cherish later:

"To be successful, you must have your heart in your business and your business in your heart" this remark emphasizes the significance of running a business. Investing is a commercial venture. Investing in real estate is one of the world's most profitable enterprises. There are several examples of people who got billionaires by investing in real estate, but there is no example of someone who regretted their decision by doing the same. Real estate cannot be lost, stolen, or carted away. It is about the safest investment in the world when purchased with common sense, paid for in whole, and managed with normal care. Real estate businesses have been thriving for years, and if there is one thing that isn't falling, it's property values. Invest now in real estate now to protect your future.

Seven tips for Investing:

Here are 7 tips that you’ll never regret if you want your investment to return something back to you:

• Understand the costs involved.
• Choose a property type.
• Examine the surroundings. Check out the location.
• Take precautions.
• Determine the terms.
• Purchase property with the intention of growing it.
• Keep important numbers close at hand.

For further details on investing in the right way, give us a call or drop a message. Real Estate investment is the worthiest of all the investments. Watch our youtube video to know more!