Real estate in Pakistan

Real estate in Pakistan is a growing sector of the economy of Pakistan.

Real Estate Sector In 2020

Pakistan Real Estate sector is growing day by day. Due to COVID-19, the construction industry faced serious hurdles but on the other hand construction industry has played a vital role. The construction industry is considered the back bone of the Pakistan economy. PM Imran Khan has declared the real estate sector as a industry which will lead the nation for the better tomorrow. There are following reasons that played a vital role in the success of Real estate sector in Pakistan. PM Imran Khan government has taken some vital decisions that allowed people to invest money in real estate sector. According to the research 2020 is considered to be the best year for real estate sector in Pakistan.

Real Estate Demand

Demand for residential properties in Pakistan grew in 2010, leading to increased interest among real estate developers and investors. Since prices have exceeded 10 million PKR, new housing developments are often aimed at the upper middle class. To assist the real-estate sector, the Government of Pakistan announced a reduction in interest rates on mortgage loans in 2012.[1][2]Shafiq Akbar, Real Estate Expert, states that country would need 20 million housing units in next ten years. [3]

Real Estate Categories

The five main categories of real estate in Pakistan:[4]

  • residential
  • commercial
  • industrial
  • raw land
  • special use
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Real Estate Sector Worth

Moreover, many more billions are spent on buying residential and commercial plots. Pakistan real estate sector worth anywhere between $1 to $1.5 Trillion.[5] According to the Pakistan Bureau of Statistics,[6] construction output accounts for 2% of GDP, with housing representing less than half that total. With the rate of urbanization that Pakistan has been experiencing, there is a growing need for urban planning.[5][6]

Real Estate Regulatory Authority

Prime Minister Imran Khan has recommended the formation of the Real Estate Regulatory Authority, while Association of Builders and Developers is against its formation.[7]


Real Estate Portals

Zameen.com is the top online real estate listing website in Pakistan. Its parent company is Emerging Markets Property Group.[8][9] Graana and Michni are other top ranked portals.[10] Graana.com is Pakistan's first Online Real Estate Marketplace providing end to end transactional services to users. Graana.com is a privately owned entity with offices in 4 countries and 36 cities.

Real Estate Education

National University of Sciences & Technology in collaboration with Graana.com offer certification in Real Estate. [11] [12] [13]

NED University offers Master of Science in Real Estate Management.[14]

Panjwani Institute of Business Studies & Technology offers Professional Diploma in Real Estate Management[15]

NIREM (National Institute of Real Estate Management) offers Real Estate Professionals Development Program.[16]

Real Estate Agents

According to FPCCI (The Federation of Pakistan Chambers of Commerce and Industry), real estate agents are playing an important role in the economic development of the country. “Construction sector has grown by 9% which indicates its strength but this robust sector needs help of the real-estate sector,” it said in a 2017 statement.[17]

See also

References
  1. Shehryar Qureshi, "Experts Predict A Prosperous Future For Pakistan Real Estate Sector", REIClub (blog) 12 March 2013, archived at the Wayback Machine, 15 August 2013.
  2. "Real estate: Abu Dhabi Group to invest $45 billion in Pakistan", The Express Tribune, 16 February 2013.
  3. "Real estate can drive Pakistan’s economy", The Express Tribune, 5 July 2020.
  4. Chen, James. "Real Estate Definition". Investopedia. Retrieved 2020-09-11.
  5. Akbar, Shafiq (2020-07-05). "Real estate can drive Pakistan's economy". The Express Tribune. Retrieved 2020-07-05.
  6. "Pakistan Bureau of Statistics". www.pbs.gov.pk. Retrieved 2020-09-11.
  7. Raza, Syed Irfan (2020-07-24). "PM orders establishment of real estate regulatory body". DAWN.COM. Retrieved 2020-07-24.
  8. "EMPG, parent company of Zameen.com, has raised $100 million in series D investment round". TechJuice. 2019-02-04. Retrieved 2020-10-01.
  9. Agencies (2019-02-09). "Zameen.com's parent company now has $100 million more to invest". Profit by Pakistan Today. Retrieved 2020-10-01.
  10. "What are three best property portals in pakistan? - Quora". www.quora.com. Retrieved 2020-10-01.
  11. "Graana.com launches Real Estate Certification". Retrieved 2021-01-26.
  12. "Graana.com and NUST partner to launch certification".
  13. "Graana and NUST are collaborating to introduce Pakistan's first-ever educational course on real estate".
  14. "NED University of Engineering & Technology", Wikipedia, 2020-04-28, retrieved 2020-04-30
  15. "Professional Diploma in Real Estate Management – PIBSAT". Retrieved 2020-04-30.
  16. Limited, Set Private. "NIREM - National Institute of Real Estate Management". NIREM - National Institute of Real Estate Management. Retrieved 2020-07-16.
  17. Mcgraw, Sarrah (May 30, 2017). "FPCCI vows support to real estate agents". Tribune.
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