RDA urges personalities not to endorse illegal endeavours

RDA urges personalities not to endorse illegal endeavours

/in /by

Rawalpindi: According to a notice published in local newspapers on October 30, the Rawalpindi Development Authority (RDA) has urged the Cyber Crime Wing of the Federal Investigation Agency (FIA) to take action against illegal housing projects and has requested that celebrities verify the legal status of housing projects before promoting them.

Read more with EL news: FBR guarantees PKR 50,000 monthly income tax exemptions

RDA emphasized that unauthorized housing schemes deceive the public through deceptive advertising and sponsorships. Another valid concern raised by the authority is that luminaries from the film, television, music, and sports industries are increasingly participating in these deceptive endorsement campaigns. The notice revealed that some of these well-liked individuals have become legal ambassadors for these unlawful housing projects, causing people to invest in them.

 

Additionally, the populace has been warned against investing in illegal residential initiatives and vertical developments. Investors are urged to verify the validity of no-objection certificates (NOCs) issued by relevant authorities for these developments.

According to reports, the RDA Metropolitan Planning & Traffic Engineering (MP&TE) Directorate initiates action against illegal housing schemes in the Rawalpindi District in accordance with the RDA PDC Act of 1976 and the Punjab Development Authorities Private Housing Schemes Rules of 2021.

Share this:
FBR guarantees PKR 50,000 monthly income tax exemptions

FBR guarantees PKR 50,000 monthly income tax exemptions

/in /by

Islamabad: According to news reported on October 30, Federal Board of Revenue (FBR) officials have denied claims that income tax exemptions on incomes up to PKR 50,000 per month are being discontinued.

Read more with EL news: PDWP approves important development initiatives

The board has promised that these exclusions would not change. It stressed that the FBR is in talks with the International Monetary Fund (IMF) at the moment, and they want to be clear that these talks will not include new tax proposals or a review of taxation for those with low incomes.

The FBR officials made it clear that the tax exemption for people making PKR 50,000 per month will not alter, and the exemption for people making PKR 600,000 per year will not be taken away.

They stressed that no discussions or plans to remove this tax exemption are currently underway, and the World Bank (WB) has not recommended reducing the current PKR 600,000 threshold.

Moreover, the officials made it clear that taxes on revenue from the agricultural sector are outside the purview of the FBR and belong under the purview of provincial governments.

The Monetary Policy Committee (MPC) met earlier today, and the State Bank of Pakistan (SBP) decided to keep the key policy rate at 22%. An IMF study and other economic considerations were taken into consideration before making this conclusion.

 

According to a press release from the SBP, the MPC acknowledged that headline inflation had increased in September 2023 as expected. The central bank does, however, expect inflation to drop in October and to stay on a downward trend, especially in the second half of the fiscal year.

In a related development, the FBR surpassed the IMF’s tax collection goal for the first quarter of the current fiscal year, according to Interim Finance Minister Dr. Shamshad Akhtar.

Share this:
Will the Housing Market Drop More in 2023?

Will the Housing Market Drop More in 2023?

/in , /by

Majority of the homebuyers have an impression that property prices would be keep on rising. Although, it seems not so special, especially when one discusses about mortgage rates of previous decades. The rates of the properties may continue to skyrocket, which might create a trouble in real estate sector. Some real estate specialists believe that real estate recession might be able to converse some of the main price gains in the houses. Some of the real estate markets like Pakistan had witnessed several slowdown in past few years. Even, the real estate experts have a belief that there would real estate market down in some countries.

Real Estate Market Down

Will real estate witness a crash?

Some of the real estate markets like Pakistan fluctuated downright, especially during 2008 financial recession. The rates of the houses witnessed numerous crashes, which resulted in worst consequences. It was the time of real estate market bubble burst due to which world experienced real estate market down towards deeper crisis. Nowadays, the recent housing boom after COVID is also facing potential threats due by increasing mortgage rates and recessions. Some real estate experts argue that the rates of houses would automatically fall but the decline wont be that much severe. The only difference between nowadays and the time of Great Recession is balance sheets of homeowners. Some financial experts argue that the balance sheets have grown much robust, in contrast to what they used to be decades ago. Nowadays, any homeowner with stellar credit of mortgage with huge equity would fall below 5 percent.

Some of the important aspects to protect housing sector from crash are below.

Low inventories

Many of the real estate authorities think that one witnessed around 90 days houses supply during month of August. In previous year, the supply was very less since the inventory was very less. It proves that the buyers of houses had very few options, so many of the homeowners had to increase their rates. It also proves that supply and demand formula may not put the real estate market down financially in future. Real estate market crash is one of the biggest reasons behind low inventories.

Homeowners didn’t pay heed to demands

Many of the homeowners had change their selling strategy by keeping previous crash of 2008 recession in mind. Now, they cannot purchase any land easily, or get regulatory approvals to quench demand. Back after the precious crash that occurred during 2008 recession. Although, they are attempting to buy and then build like they used to around two decades before. But due to lack of supply and higher demand, they are facing issues with this. As builder are bringing those homes that are already available in the real estate market. After that, it depends upon the homeowners to make decision regarding their sale or purchase of their properties. Such move would be helpful in equalizing supply and demand of houses, so there wont be real estate market down.

Demographic trends producing new buyers

Nowadays, many of real estate experts are witnessing evolving demographic trends that create new buyer in market. Such trends has successfully created a huge demand for houses at different fronts. Many of the people in rich countries like USA are owning the properties that they bought during COVID. During those days, many of the industries encouraged their staffs to work from home. Millennials have mainly followed this trend, and are passionate enough to build a home, where there would be a separate workplace. In other words, they look for a place to live that would be their office at the same time. Such emerging trend has resulted in lowering the chance of real estate market down trajectory with real estate market decline.

Conclusion

Despite numerous challenges, the real estate market doesn’t seem like fluctuating. It causes numerous slowdown, which might not make real estate market down. The prices are very high due to which the actual volume of sale has decreased. Also, the inventories of houses for sale have declined due to this issue. Some Homeowners who locked their 3 percent mortgage rates are not going to sell their properties. For more details regarding the newest update about real estate market situation, please reach out to professionals of Estate Land Marketing. Our consultancy firm has some knowledgeable real estate expert that assist in making beneficial decisions.

Share this:
When will the housing market crash again? Updates 2023

When will the housing market crash again? Updates 2023

/in , /by

Majority of the homeowners have expressed concerns about the prices that can often panic. For many individuals, their only biggest investment in real estate starts from their home. There is a huge nervousness among the real estate investors that often causes potential threat to their investment. Any sort of real estate market crash can cause negative impact on their investment, hence causing losses. On the national level, many of the housing activities have witnessed a sharp decline, in contrast to previous years. For instance, some rates decreased from the initial months of year 2022, but increased during 3rd quarter of that year. Many of the real estate experts have often expressed their concerns of real estate market bubble that may occur at end of year 2023. Within the coming years, the real estate investors had witnessed 2 percent increase in the housing price, which was higher than previous years.

Real Estate Market Crash

What does decline in prices indicate?

When one talks about house prices decline, it relies on numerous factors like real estate market crash, or market boom. Some of the other important factors regarding the decline in rates is below

Listing of decreasing rates or price drops.

If there is a house in real estate market for auction, and not gaining much interest, then this requires discussion. In these cases, listing agent and sellers often negotiate with each other about the changing prices of homes. When one sees about the drop of listing prices on huge scale, it indicates that the seller market is witnessing ease, and would favor buyers. During 3rd quarter of 2023, almost 18 percent of houses had witnessed price cuts of listing. Several real estate data have revealed that 20 percent of the houses witnessed rates cuts at year 2022. Many of the real estate investors have considered Real Estate Market ETF to be safe investment.

Increase of sale prices

In many of the real estate markets like Pakistan, sale prices of houses are still higher, as compared to previous year. This shows that they are growing at a much lesser pace, which shows there is a possibility of real estate market crash. Several surveys have indicated that sales price of a home are median, and peaked at $434,780 from 2nd quarter of year 2022. One can seriously consider this significant jump of 15% from 2nd quarter of year 2021.  Between the time May 2022 and July 2023, rates of the houses remained flat.

Decline of rates by month.

One can say that median of home sale rates in August 2023, which is more than the one in July 2023. Many of the financial experts have considered this real estate market decline of housing prices to be on monthly basis. However, due to the principally periodic nature of real estate market, one considers month-to-month numbers too volatile to indicate changing trends of real estate prices.

Drop of prices

Majority of the home sale prices have been increasing with every passing year, starting from month. One of data revealed that price of 3rd quarter of year 2023 witnessed 3 percent increased, in contrast to year 2022. Majority of the houses had lesser prices in August 2023, while the sale to list rate remained high and have not changed. Many of the real estate experts have witnessed crunch of housing inventory. Majority of the buyers are willing to give exact amount that the sellers are willing to charge by selling their home. The declining prices of homes are indicating that the real estate recession might take place in coming years. In such cases, one may not buy on high interest rate of mortgage.

Conclusion

There are variety of contributing factors, which show that real estate market around the globe might witness changes. Majority of the real estate markets that revolve around difficult financial modeling of real estate prices. There are several elements that result in real estate market crash, which would then result in losses of investment. For further details about the potential crash, we would recommend you to visit the website of Estate Land Marketing. Our real estate consultancy website involves all kind of data analysis regarding the past and future trends of real estate.

 

Share this:
How to Conduct Real Estate Market Research in 2023?

How to Conduct Real Estate Market Research in 2023?

/in , /by

Real estate market research is one of the important ways for real estate investors gather information about real estate properties. Suppose, if one needs to  invest in some property in a city or to predict its profits or losses. It is really important for real estate investor to not go ahead with their purchase, unless they have proper information. It is one of the initial phase for every investors, before he invests his capital in real estate business. One must be sure that their investment must be viable and relies on current scenario. The best thing about such research is that it tell you about potential real estate market decline. In order to excel in real estate business, one must have some authentic research about this sector.

Real Estate Market Research

Why is it important?

The real estate market research is really important as it provides comparative examination of current real estate market. One can compare the properties that are available for sale and rent. Whether one purchases or rents any property, this research helps on coming up with best decision. This research helps in making decisions that would definitely help in longer run. The new real estate market update shows that the real estate business would prosper, if investors would rely on their proper research. All the information of this update was based upon the research of some best companies like Zillow.

Why is it necessary

There are numerous reasons, which are really important for real estate market research.  Some of the important reason for it are below

  • To learn whether one should invest in one city or any other.
  • Classifying the essentials delay investment in several cities.
  • To learn about demographic factors to regulate the development of the area where one plans to invest.
  • To have details about investment ventures in several areas and to learn about the future. That future would determine that they would have such development that would increase the worth of the properties.

How to conduct such research

One need to take a proper and organized method when one conducts a real estate market research. For this, one can segment their analysis around the four elements, which are market, demand, supply and atmosphere. Some of the necessary steps for this research are below

Study the entire market and its evolution

At first, one must have all type of real estate information about the sector globally. The main reason behind this is to improve information in this sector i.e. changing trends, and value of the market. One needs to understand things like volume of market, or the demands of real estate investors. Other main aspects that one must study is to look for prospects in coming years. Also, one can realize that whether real estate bubble, and its negative impact on this business. Whether the real estate market would evolve or not, one should study properly.

Analyzing the demand

In order to know about the real estate customers in the market, one must analyze their demand. One should also evaluate whether there is potential for real estate market to grow in the world. Some of the main things that one should learn during real estate market research should be the changing trends in real estate. One should learn about their location, and their consumption rate.

Analyzing the offer

The analysis of the real estate market research offer studying in detail about the competitors in the real estate market. Investors should research that what kind of resources does the competitor have to excel in the real estate business. What are the shares of different real estate companies are reliant on the analysis of such research. Also, one can easily learn about aspect like real estate market ETF to gain more profits.

Conclusion

If you are eager to invest in real estate to gain more profits, the you must have solid real estate market research. This research would be completely helpful in order to come with profitable decisions. If you have a good research, then you would know whether there are risks in this sector or not. For more details about this research, you must visit the website of Estate Land Marketing. Our consultancy website comprises all types of information about real estate research.

 

Share this:
PDWP approves important development initiatives

PDWP approves important development initiatives

/in /by

Lahore: According to a news source on October 25, the Punjab Development Working Party (PDWP) has approved four major development programs that include the construction of public buildings, road networks, and bridges.

Read more with EL news: CBD’s groundbreaking infrastructure project ‘Axis’ highlights

The anticipated budget for these projects is PKR 3,965.796 million, according to the information. The projects accepted at the meeting, which was chaired by Iftikhar Ali Sahoo, Chairman of the Punjab Planning and Development (P&D) Board, included the rehabilitation of a 28-kilometer road that connects Nankana Sahib to Shahkot. The estimated cost of this project is PKR 2,240.099 million. The creation of model e-registration offices in Punjabi divisional headquarters, with a PKR 603.98 million budget, was also agreed during the meeting.

Furthermore, with a PKR 757.887 million expenditure, the PDWP has approved the renovation of Arazi Record Centres (ARCS) throughout Punjab. Additionally, with PKR 363.830 million in funding, the sub-registrar’s offices at the divisional district headquarters in Punjab were to be renovated.

Share this:
CBD's groundbreaking infrastructure project ‘Axis’ highlights

CBD’s groundbreaking infrastructure project ‘Axis’ highlights

/in /by

Lahore: With the opening of its newest architectural wonder, “Axis,” Central Business District (CBD) Punjab moves closer to changing the city’s business environment, a news source said on October 27.

Read more with EL news: Property valuation in Rawalpindi finds stark differences: FTO

According to the information provided by the news source, this massive project, which is located in the busy CBD of Punjab, consists of ten buildings in the “Runway” Retail District and is designed to support the city’s booming business sector. With an average unit size of 1.2 kanals, the exquisitely built Axis provides a posh shopping experience for the discriminating customers of Lahore and Punjab as a whole.

Three of the ten planned buildings have been completed during the project’s first phase. Each of these buildings has an integrated parking facility that can hold more than 600 cars, providing convenient parking for visitors. Axis is ideally situated, with easy access from Kalma Chowk and Walton Road Lahore. It is surrounded by important locations, such as the Hospitality District, CBD Punjab’s Retail Hyper Mall, and the Entertainment Hub. This project, designed for Pakistanis living in Pakistan and abroad, is a prime example of CBD Punjab’s commitment to developing a premier shopping destination.

Axis guarantees that the unit will have a complete shell and core construction, together with utilities, fire protection conduits, outside cladding, and attractive landscaping. This project demonstrates CBD Punjab’s commitment to creating an atmosphere that is favourable for long-term economic growth.

Share this:
Property valuation in Rawalpindi finds stark differences: FTO

Property valuation in Rawalpindi finds stark differences: FTO

/in /by

Rawalpindi: According to news sources on October 25, the Federal Tax Ombudsman (FTO) has discovered shocking disparities in property value tables in the city, raising questions about the veracity of property assessments there.

Read more with EL news: Recent agreements with China to expand the scope of the CPEC

The fairness and openness of real estate transactions are at risk due to problems with valuation rates and the removal of important information, according to an independent FTO inquiry.
In a recent disclosure, stark disparities in value rates were found after the Federal Tax Ombudsman (FTO) carried out an extensive examination of Rawalpindi’s property valuation. The FTO’s examination was centered on the FBR’s market analysis and valuation tables. The FTO discovered, among other things, that there were issues with the Rawalpindi property assessments as stated in Statutory Regulatory Order (SRO) 1734(1), which was issued on September 13, 2022.
Several significant Rawalpindi regions were missing from the value figures, the inquiry found. Notably, residential and commercial zones, as well as the center of Rawalpindi, including Raja Bazaar, Asghar Mall, Sadiqabad, and Pirwadhai, were not included in the appraisal process. A number of the district’s tehsils, rural areas, and agricultural holdings were also left out.

Additionally, disparities in the appraisal of other property kinds, such as plots and shops, were discovered. The FBR did not take into consideration the special features of certain places, including the Askari housing societies, which are primarily made up of apartments.
The FBR’s attention to publicly known market rates and the lack of a standardised valuation methodology have come under scrutiny in light of this disclosure. In order to rectify these disparities and guarantee a just and transparent property valuation system in Rawalpindi, the FTO has underlined the necessity of corrective action.

Share this:
Best real estate ETF to invest in for long term

Best real estate ETF to invest in for long term

/in , /by

ETF stands for exchanged traded funds that offer investors to invest their capital in a fund that further invests in bonds, or other assets. Nowadays, it is completely matchable with the real estate business, and its purchase has become easier and affordable. These funds would be better source of income, since REITs are needed by law to pay more than 80% of their dutiable income every year. Real Estate Market ETF has become an amalgamation of increasing interest rates ever since huge inflation hit real estate industry during COVID-19. Some of the entities like Deloitte suggested that some real estate professionals have planned to tackle real estate market bubble through ETFs. ETFs through real estate may provide investors with some stream of income through dividends, which is good for income.

Real Estate Market ETF

Best Real Estate ETFs for investment

Some of the best real estate etfs not only help in generating profits but also help to gather more investment for longer term. Many of the real estate experts have analyzed real estate market etf by looking at expense ratio. This would further help investors in generating their passive income without any need to manage responsibilities relevant to property ownership. The real estate investors must ensure that ETF might often involve risks such as interest rates, or other financial risks. Some of the best real estate ETFs that would guarantee long term investment are below.

JPMorgan Realty Income ETF

JPMorgan Realty Income ETF  is one of the best real estate ETF that invests capital in real estate trusts. It also includes other real estate investment aspects like primarily equity REITs and mortgage REITs, which highlight market capitalization. This entity looks REITs apparent to display economic strength that helps in operating revenues for further growth. The best thing about this etf is that it involves interest rate of more than 5 percent for three months. Also, it helps to manage assets worth 500 million dollars, which helps in averting real estate market decline.

Pacer Industrial Real Estate ETF

The Pacer Industrial Real Estate ETF (INDS) is the entity that tracks a catalog of established real estate companies that derive more than 80 percent of their revenue from industrial real estate events. This real estate market etf also includes industrial facilities like distribution centers, self-storage facilities, and warehouses. This entity also guarantees 5 percent of interest rate with the return of three months with the asset management under 200 million dollars.

Cambria Global

Cambria Global is another Real Estate market ETF that actively manages exchange funds that gives acquaintance to real estate sector. It is also relevant to industries with a global carrier of real estate securities like REITs and real estate management. The portfolio of this etf assigns around 50% of its assets in impartialities with targets of around 100 securities with equivalent weightings. As per the real estate market update, only asset worth 30 millions dollars would be managed by this.

Xtrackers International

This is one those real estate market etf that tracks a market-cap-weighted catalogue of stocks in global real estate business. It consists of the fund that involves sizes of every market cap that enables REITs to be among its elements.  It guarantees three month return with 2.5 interest rate, and enable management of assets worth 500 million dollars. The best part about this entity is that it has been helpful in addressing issue like real estate recession. Hence, providing better benefits to the real estate investors.

Conclusion

The investors capitalizing on real estate market ETF are able to experience financial diversification with lower risk and high growth. Also, it very helpful in generating more income with lower risk of low growth. The ETF is one of the best choice for investors willing to gain exposure for real estate investment by owing expenses properties. It also a method of stakeholders to engage with ETF sector without having any need to go around complexities. However, there are also some of the risk that investors must understand, in order to generate majority of revenue. If you want to know more about the ETF process, you should check out Estate Land Marketing. Our Real estate consultancy company has some knowledgeable real estate market experts, who would provide better guidance about it.

 

Share this:
Recent agreements with China to expand the scope of the CPEC

Recent agreements with China to expand the scope of the CPEC

/in /by

Anwaarul Haq Kakar, the acting prime minister, declared on Wednesday that Pakistan remained dedicated to carrying out the various sectors’ recently completed projects with China.

Read more with EL news: Sindh is repairing roads and working on GIS mapping to tax property

He declared that the China-Pakistan Economic Corridor (CPEC) would enter a new phase with the recent agreements between the two nations.

He claimed that China’s Belt and Road Initiative was the guarantee of the growth and prosperity of the entire region during a meeting with Chinese Ambassador Jiang Zaidong.

During his recent visit to China, the prime minister conveyed his appreciation to Chinese President Xi Jinping and the Chinese government for the cordial welcome and arrangements.

According to him, Pakistan would move quickly to put the agreements and Memorandum of Understanding that were struck during my most recent trip to China into effect.

He claimed that China and Pakistan had a friendship that extended beyond the ocean’s depths and even the tallest mountains.

He said that the benefits of CPEC were being felt by the citizens of both nations.

The prime minister was given the assurance by the Chinese ambassador that China would fully cooperate with Pakistan’s growth and economic stability.

Share this: