Real Estate Agents in Pakistan
Real estate is a significantly growing industry, and authentic real estate agent in Pakistan are a need of the hour. World Bank estimates state that the real estate sector assets contribute around 60 – 70% of the country’s wealth, which amount to approximately, USD 300 to USD 400 billion. Real estate is among the few industries that have seen perpetual growth. Every day, millions of individuals all around the world are in search of a place to live. When purchasing a property, they prefer assistance from real estate agent to make an ideal selection.
Real estate agent disseminate information about properties and assist individuals in obtaining insight into the future of their investments. Since land acquisition or a ready-made property involves a hefty sum of money, investors are highly particular about the real estate agent and their level of expertise. Pakistan’s real estate industry has encountered turmoil and volatility in the past few years, but real estate agent future looks promising and optimistic.
Encouraging Future of Real Estate Agents
Becoming a real estate agent in 2021 will open up a gateway of opportunities, and it is the right time to become one. Federation of Pakistan Chambers of Industry and Commerce stated that real estate agent in Pakistan undertake an essential role in the country’s economic development. “Agents will be able to cope with the new landscape and thrive with the right training and exposure.” It said in a recent statement.
It is an excellent time to become an agent if the person is confident about the segment or division they want to work in, considering different and unique opportunities are available in this field. Within the context of real estate and the real estate industry, one can quickly distinguish how big the market is in actuality and what can be made out of it. For instance, one can choose to work with residential properties or be more interested in commercial properties. Provided that an individual need to understand the market, it is insignificant if they decide to bring on the big guns and deal commercial and residential together. Therefore, it is vital to make sure that you meet the requirements of this industry, research the market before the entrance, and are prepared for hard work.
Industry experts anticipated that the real estate market would fall in 2020 due to the economic crunch caused by the COVID-19 pandemic, resulting in real estate agents suffering. strikingly, the market stood back on its feet towards the fourth quarter of the year after an initial fall.
For further information: How to become a real estate agent in Pakistan
The government of Pakistan has reduced the interest rate and announced incentives for investors and businessmen to reduce and cushion the economic impact of the pandemic. It’s a relief package for the construction industry with a double aim of providing employment to daily wage earners and stimulating economic activity. The package also includes extra incentives for builders and developers to build low-cost housing for the underprivileged under the Naya Pakistan Housing Program. In addition, the tax rate is said to be fixed for the construction, and the withholding tax will be waived off.
Furthermore, CPEC, a joint venture between China and Pakistan, has become a pioneer of a transmuting change in Pakistan’s economy. The real estate industry has also transformed since it has connected Gwadar seaport to Kashgar, located in China. Various engineers are required from both countries to be deployed in Gwadar to complete the project. A handful of small cities, towns, and mini-projects along the belt are being established to accommodate engineers and other workers. It is splendid news for the real estate agent and real estate market. Societies such as Bahria Town and DHA in Lahore, Karachi, Multan, Islamabad etc., are located on the outskirts of the major cities, which can then be smoothly connected to the CPEC.
The real estate sector has a systematic way of dealing, and there is a chain of continuing processes undertaken each day. Real estate agent in Pakistan must adapt quickly to these changes. The present and future outlook for agents seems to be an optimistic one if they continue to update their knowledge, be persistent, form strong connections and pay close attention to details, among other things.
Estate Land Marketing is a renowned real estate company in Pakistan with a team of highly trained professionals whose aim is to provide clients with profitable investment opportunities across different cities of Pakistan.