DHA Islamabad along with DHA Lahore and Karachi has witnessed a surge of about 200% in real-estate deal and that too within the last 15 days. However, PREIF, Pakistan Real Estate Investment Forum president is of the view that this surge is owed to the impeding Income Tax (Amendment) Act 2016.
On another note he was quick to point out that other urban areas have not witnessed a similar surge in real estate transactions. Property prices which July onwards fell by 25-40 pc seems to have recovered by as much as 10-15pc in the last 15 days.
While DHA Islamabad and DHA Lahore real estate deals have witnessed a surge over 50 pc DHA city Karachi and DHA Karachi has experienced a surge of 200pc.
DHA Always Takes the Lead
Mr. Shaban Elahi, the president of Pakistan Real Estate Investment Forum suggests that DHAs always take the lead when it comes to boom in the real-estate sector while other areas merely follow the suit.
However, he seemed hopeful that both the prices and the number of transactions will improve in other areas too with the passage of time. However, he was quick to mention that the reality remains that the real-estate sector seems to have regained the investor’s attention and confidence.
Overseas Pakistanis Keen to Invest in both Commercial and Residential Projects
Mr. Shaban Elahi, the president of Pakistan Real Estate Investment Forum further elaborated that business in the real-estate sector of Pakistan seemed to have come to a standstill before the passage of Income Tax (Amendment) Act 2016. However, things have changed and the sector is now witnessing encouraging signs and that too on a daily basis.
The most encouraging thing according to him is that overseas Pakistanis seem keen to invest in both the commercial and residential projects in Pakistan along with the allied sectors.