Since the past 2 years Real Estate sector has been experiencing a slump due to various reasons. The most significant reason is the deteriorating situation of the economy and some of the government’s ill policies.
Through Real Estate investment, successful developers and investors have made millions. However, this doesn’t happen overnight. It demands you to be street-smart, savvy, thoughtful decision-making and of course luck.
Bahria Town is truly a class apart. It has changed the living standards of residents drastically. The facilities and comfortable lifestyle Bahria Town provides is unmatched in Pakistan.
I belong to an upper-middle-class family, in Pakistan. I work in a software company and live in my parents’ house. Like anyone else, I have also dreamt of having my own home. In doing so, my father insisted me to buy a piece land and built a house later in life. I had saved my money for this purpose. At the beginning of 2017, I purchased some land for around PKR 1.5 Million. It was a newly launched housing scheme and the rates of the land were expected to increase within a year or two.
As the Pakistan Real Estate market is growing, we are seeing countless housing societies being launched in Pakistan. Now every other person who has a big piece of land starts developing his own society and somehow gets permission to do so with or without the approval of local development authorities. However, the problem is that there is no standard of housing societies. They just focus on selling plots and making money. No proper infrastructure such as roads, hospitals or other basic services is taken into account to provide the residents or investors any kind of safe return. As a result, most of such projects fail to deliver.
How one of the greatest real estate markets in the world went from boom to bust, and back to stability once again.