Pakistan experienced sharp price hikes in 2013 and is currently experiencing marginal drops in property prices. This phenomenon is known as correction in the real estate market which takes place when buyers and investors shift their focus from one market to other or downsize their houses. Currently, this correction phases is near completion and the market is ready for another boom which will most likely happen soon.
There are a lot of factors contributing to this, such as; the huge amounts of direct foreign investment coming in and the economic growth it is spurring; the stability of Rupee has increased due to the value of the dollar falling which will most likely lead to a drop in inflation and encourage the State Bank of Pakistan to lower the interest rates.
In addition, people who invested in Pakistan in 2014 have gained around 10% profit on their investments due to the Rupee stabilizing. Which is why it is easy to predict that the Pakistani property market is the best place for investment at the moment.
In this booming real estate sector, Packages Limited, the flagship company of the Packages or the Syed Babar Ali group of companies has resolved to develop a real estate project in Lahore. The type of project has not been specified as such but most likely it will be a commercial or office complex. This announcement triggered the investors’ interest causing Packages’ stock to skyrocket.
Saad Arshed, Country Director of Lamudi.pk stated: “Given the rocket speed of the real estate sector, it is undoubtedly the best form of investment for investors. However, do keep in mind to diversify your real estate investments and focus on different housing societies Lamudi.pk which is officially the fastest growing property portal in Pakistan is growing at a staggering rate. Seeing the true potential of Lamudi the company recently received investment for the company’s Asian countries.
Now is the time to make the move and cash in on the speculated property boom, find your perfect property to invest in today.