Real estate sector is booming in Pakistan. The evidence is visible from the current housing prices of market as stated by Business Insider
. Since 2011, the housing prices in Pakistan have doubled. Multiple factors are playing role in this. Pakistan housing industry is soaring. It seems like as if Pakistani housing industry will face a similar fate as of Australia’s residential construction. Australian real estate sector records a jump of 17% in January, recovering after an ugly slum.
Likewise, Pakistan’s real estate is witnessing a surge. A case in point is the investment of the $2 billion on the housing construction project. The project visibility can be seen at the outskirts of Islamabad. According to a Bloomberg report, the project Eighteen, the housing project, is under the supervision of the Egyptian ORA developers. The purpose of this housing project is to deliver almost 1000 housing units. This housing project will not only cater the demands of the population at large but also solve the issue of the hosing in Pakistan
Pakistan real estate is experiencing positive growth. This accounts for multiple reasons. The fundamental reason is the better condition of law and order in the country. Moving forward, the economic condition of Pakistan has also improved. Pakistan economy has witnessed the increase of 5% in the GDP (gross domestic product). This positive outlook of the economy also maintains its impact on the real estate sector of the Pakistan as well.
Besides this, there is a significant reduction in the extremist activities in Pakistan. Further, the recent developmental activities occurring at the Gwadar- a flagship project of One Belt One Road Initiative. The investment coming under the banner of the OBOR which is approximately $US 50 billion from china.
With this CPEC investment, Pakistan is coming under the limelight of the international arena. Its strategic importance has significantly enhanced. This flagship project has opened new doors of investment for Pakistan not only in the international market but also in the regional block as well.
In a nutshell, with the improved law and order condition, reduced militant activities, positive economic growth and foreign direct investment in Pakistan has given an edge to all sectors of the country. It is also reflecting positive impact on the housing prices of the Pakistan. Further, booming the already set prices of the real estate. With the growing population of Pakistan, the housing problem will become acute. If this issue wasn’t address on priority basis. But, the inflow of such investments will prove blessing in disguise for the housing crisis.