Pakistani real estate market situation

With the rapid economic growth in Pakistan, the real estate industry, one of the economic pillars, has also witnessed rapid development, providing huge opportunities for real estate developers. First, the Pakistani real estate market overview. Visit to  Best property developers in Lahore (A) population and housing status quo Pakistan's total population of about 1.6 million, of which the rural population accounts for about 60% of the urban population accounts for about 40 percent of the current population of more than 1 number for the town million for 498 Ge. The total population growth rate of 2.61% , the urban population growth rate of 3.5-4.5% , an annual increase of about 650,000 families. Pakistani 21.63% of the family monthly income of more than 111 US dollars. 28.52% of the monthly family income of 64-111 between the dollar , the remaining 49.85% of the monthly family income is less than 64- dollars. The average household size per household is 6.6 , with an av...

Huge population base and housing status show that Pakistan real estate market holds a huge demand for space. In the fiscal year 2002-2003 , the growth rate of residential housing in Pakistan was 3.3% . The average growth rate in 2004-2007 was 3.5% . Pakistan's real estate market is undergoing a period of prosperity and development. According to estimates by the Pakistani Investment Authority in 2006 , the annual demand for housing in the entire Palestinian territory is about 650,000 sets, but the annual construction capacity is only 350,000 sets with a gap of 300,000 sets. The capital, Islamabad, has a population of about 7.5 million and housing needs of about 125,000 units, with an additional demand of about 4,000 units each year . Most international diplomatic and Pakistani government officials live in this city. As Islamabad has a beautiful environment, real estate in Islamabad is considered as one of the long-term investment projects with appreciation potential. Karachi is Pa...

The price of land From 2002 to 2005 , land prices in vacant lots in Karachi rose by an average of 176% while land prices in developed areas rose by an average of 132% . Other major cities also have different degrees of land price increases. Source: Pakistani Investment Authority          At present, the price of land in commercial areas including shopping centers and other commercial land in the eight districts of Karachi Defense Zone has risen to 800-1000 US dollars / square meter. Different land housing land prices in different lots, on the whole with the warming of Palestinian land prices rose in real estate development, land prices in the city center has risen to 8000 Meiyuan / square meter. The main foreign developers Currently, 24 foreign developers are investing in real estate in Pakistan , including 2 from Saudi Arabia , 4 from the United Arab Emirates , 7 from Malaysia , 4 from the United Kingdom and 2 from Singapore . T...

Pakistan's national housing policy stipulates that foreign companies must form a consortium with local companies, that is, the establishment of a joint venture and the approval by the Securities and Exchange Commission ( SECP ) before the real estate development. (A) Pakistan land policy Land is divided into residential land use, commercial land and industrial land. The acquisition of land must take place according to the law of land and through a unified and transparent market price system and procedures. All land transactions take place through auctions, but do not include low-income homes and land for welfare purposes such as universities, hospitals, schools and parks. (B) housing credit policy Housing Credit Corporation ( HBFC ) loans per year from the current 12 crore next year to raise 70 crore. HBFC introduced a large loan program and established a low-interest loan program with other financing agencies to provide loans to low-income families. (C) the real esta...

The guarantee approved by the Securities and Exchange Commission to be assessed as an "A" insurance company must be endorsed by the relevant government departments at all levels.  housing construction contract standards Housing projects Whether foreign or domestic funded projects, relevant government departments and organizations should participate in the work of construction companies and consultants to ensure that housing projects have access to local experts. The Pakistan Engineering Council is responsible for assessing and amending the arbitration clause in the contract so as to avoid the clause being misused and to ensure a quick resolution of the dispute between the customer, the relevant organization and the contractor.Visit to  Best Construction Projects in Lahore Affordable apartment All new affordable apartment, the building area should be125.4 square metersOr less , use the area should be92.9 square metersWithin 5 years, all taxes will be waiv...

Pakistan real estate development process include: i. Project application submitted          ii. Project planning prerequisites         iii. In the newspaper published a no objection statement          iv. Housing planning standards          v. detailed review of the project plan          vi. mortgage land release          vii. implementation of the plan          viii. Supervision and control          (B) the main city real estate planning standards and regulations 1 . Islamabad Housing Plans Standard The plan standard stipulates that the proportion of land use must be within the following range: ( A ) Houses not more than 55%        ...

All Sindh land is owned by the Sindh government and administered by the Land Use Committee ( GOS ). The land in Karachi is owned and managed by the DHA and CDGK in Karachi . General Requirements for Development Licensing: With development permission, real estate development can be carried out. Real estate development should meet the following requirements:  ( 1 ) laws and regulations;  ( 2 ) detailed plans;  ( 3 ) common standards or regional standards;  ( 4 ) certificates of land transfer; ( 5 ) Development permit conditions. Development license conditions: The relevant authorities may provide for the development of licensing conditions, including: ( 1 ) Submit drawings, maps or technical requirements and detailed records; ( 2 ) Minimize the impact of development projects on other lands, including time of use, type and density of activities that may be undertaken. ( 3 ) Control the start and completion of real estate development and the time of...