The Real Estate industry is one of the largest growing sectors in Pakistan, which has faced many ups and downs in the past. Karachi Real Estate industry has also faced many challenges in last three decades, but it is getting smoother day by the day. It seems that future of this business is bright and great and people are ready to invest for future profits.
Many new housing schemes are introduced and these are well supported by the Government, which will give fruitful results. It is much better than past and Karachi is going to be on top, with the passage of time. The future is pleasing and many buyers are available. People are now comfortable to invest here to great extent.
Although political violence, terrorism and criminal activities has affected this sector a lot in the past, but overall situation has improved significantly over the last few years. And also due to many new well-developed and world-class societies and projects, the local Real Estate industry is growing rapidly and property demand is on the rise.
Investing in Real Estate has always been considered as one the safest and high return avenues for investment. And in the biggest city and business capital of Pakistan, it is no different. However there are certain problems, which have been hampering the growth of Karachi Real Estate. And we have discussed these below,
The Law and Order situation of Karachi have historically been not very stable in the past and it is one of the main issues which local Real Estate Industry have suffered from. Due to it people were reluctant to invest here before, but having said that the overall situation of the city have improved significantly over the last few years. And it has resulted in revival of the local Real Estate industry but still there is room for improvement.
The other prominent problem which the city (and generally whole country) is facing is “Corruption”. In many localities of the city, it is a very common issue and local industry has been greatly affected by misconduct of some agents and other land mafia in the past. Now influence of these groups have been reduced but it is not yet completely eliminated.
Heavy taxation and significant increase of property transfer fees by the Sindh Government has also effected the growth of Karachi Real Estate industry. And it should be looked at and revised to attract more investors from around the country and especially overseas Pakistanis.
Karachi is the biggest city of Pakistan and capital of Sindh. A number of well-developed housing societies are here which are ideal places for living. Some of them are affordable by everyone, while others are for elite class. None the less Karachi Real Estate is booming and has great potential of high-return investment.
Below are our top picks for investment in the beautiful and ever-buzzing city of lights, Karachi,
3- Gulshan-e-Iqbal Town
5- Bahria Town