Pakistan’s Real Estate Sector in 2015
We are sight months into 2015, and as indicated by the specialists, the year has been a promising one for Pakistan’s land segment subsequent to the quantity of property exchanges that have occurred so far has expanded by 10 to 15% when contrasted with the earlier year.
Here are a percentage of the patterns that the real estate sector has seen in this way:
- Demand for residential property (including apartments, houses and town houses) increased by five to 20%.
- Demand for vacant plots increased by 10 to 30%.
- Demand for rental property increased by nearly 40%.
- Property prices increased by five to 10% in Islamabad; 15 to 20 % in Karachi; and 5 to 15% in Lahore.
- Rental prices increased by 15 to 20% in Islamabad; 15 to 30% in Karachi; and 10 to 15% in Lahore.
- Demand for commercial property (including office space and retail space in commercial buildings, as well as standalone shops) increased by 10 to 25%.
- Demand for vacant plots increased by 10 to 15%.
- Demand for rental property increased by nearly 30%.
- Property prices increased by 20 to 30% in Islamabad; 15 to 35%in Karachi; and 12 to 20% in Lahore.
- Rental rates increased by 12 to 15% in Islamabad and Lahore, and 10 to 15% in Karachi.
- Construction expenses expanded by almost eight percent.
- The path in which Capital Gain Tax (CGT) (a rate of the increment in the estimation of the property in a given period) is resolved was amended in the 2015-2016 Federal Budget in the accompanying was:
(CGT is forced on private and business property proprietors who are exchanging property and is payable at the season of offering a property.)