lahore real estate

All about Lahore Real Estate

REAL ESTATE

If your queries are about Lahore real estate like Lahore real estate prices, Lahore real estate file rates, Lahore real estate maps, this article will solve your queries.

Lahore Real Estate is the official agent of DHA Lahore, DHA Multan, DHA Gujranwala, DHA Bahawalpur, DHA Quetta, Naval Anchorage Lahore Gwadar Islamabad Capital Smart City Islamabad Etihad Town Lahore Green Palms Gwadar, etc. We are licensed agents. We are one of the fastest-growing real estate brokerage firms in Pakistan. We sell and market DHA Lahore, Multan, Bahawalpur, Peshawar, Gujranwala, Quetta, Barrier Town Lahore, Barrier Town Karachi, Barrier Paradise, Barrier Sports City, Barrier Heights, State Life Phase 1 & 2, Parkview, Sui Gas, and NFC LahoreRealEstate.Com is the most visited property website in Lahore for the last 15 consecutive years (from 2004 to 2020). property website in Lahore.

At LRE, we are working tirelessly to expand our real estate network and magazine to an extent never before achieved by a single real estate organization in Pakistan.

Demand for real estate

In 2010, demand for housing in Pakistan increased, leading to increased interest from developers and investors. With prices exceeding 10 million pesos, new housing developments are increasingly targeting the upper-middle class. To support the real estate sector, the Pakistani government announced a reduction in mortgage rates in 2012.

Value of the real estate sector

In addition, many more billions are being spent on the acquisition of residential and commercial properties. The value of Pakistan’s real estate sector is estimated at $300 billion to $400 billion. According to the Pakistan Bureau of Statistics, construction output accounts for 2% of GDP, with residential construction accounting for less than half. Pakistan is an increasingly urbanized country, and there is a growing need for urban planning.

The regulatory body for the real estate sector

Prime Minister Imran Khan has recommended the establishment of a regulatory body for the real estate sector, but the Builders and Developers Association is opposed to its creation.

Real estate education

  • The NED Institute of Technology offers a master’s degree in real estate management.
  • The Panjwani Institute of Business Studies and Technology offers a Professional Diploma in Real Estate Management.
  • NIREM (National Institute of Real Estate Management) offers a Professional Development Program in Real Estate.

What should we learn from the last real estate cycle?

In macroeconomics, it is very difficult to accurately calculate and predict euphoria (when financial risks are higher) and depression (when financial opportunities are higher), but when prices start to support each other and buyers appear at certain prices and sellers appear at euphoria, there is a signal. Yes, we are talking about market cycles here, how they behave, and how they change over different time periods. By and large, what we call market sentiment looks the same in each cycle, but you have to look at the psychological behavior: Are we in a mode of dejection, are we facing depression, or is there hope and relief to look forward to?

It will be interesting to see how the recession played out between 2008 and 2011 and how the market will recover in 2012 and beyond. For example, the price of an average 1 Kanal plot in Phase 6 was between 60-70 lacs. In the last four years, the exchange rate has depreciated by almost 50% from PKR 60 in January 2008 to PKR 90 in December 2011. The last four years have been characterized by panic selling and no one knows when the market will recover. However, while the last four years were characterized by panic selling, well-located and promising properties were sold at attractive prices at that time. Smart investors focused on the areas with the greatest potential and made good buys. Over the past four years, however, no one was sure when the recovery would occur.

But as soon as economic indicators improved and the exchange rate stabilized, the price of the same 1-channel property in Phase 6 recovered by almost 50-55% in 2012. What had happened? It was just a recovery in the face of falling exchange rates over the last four years: Since 2012, the same average 1-channel property in Phase 6 has risen so much that it reached almost 275-300 lacs by the end of 2016, the last period of rising prices.

The financial crisis in other countries has no impact on the real estate sector in Pakistan, we have observed this in the last cycles. Real estate sector in our country has its own dynamics and works accordingly. We are at the end of 2019 and about to enter 2020, the currency has fallen by almost 50% in the last few years and we have observed very difficult market conditions in the last three years. Over the next few years, we can expect currencies to fall by 5-10%. Next year is likely to be even more difficult, and prices are likely to tighten some more.

We expect the current government to help ensure that the 2020-21 budget is headed in the right direction. Interest rates will certainly come down; 2021 is the year when the government will rethink before the next election campaign; we believe the recovery phase will start after mid-2021, and we expect a strong recovery in the financial services sector. Regulation and documentation of black money in real estate transactions will certainly have an impact on how the market moves in the next phase of the recovery. What products should you focus on now? That’s a topic for another time.

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