How to be confident about investing in Pakistan real estate sector?

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Published: 06th February 2012
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For local investors, it is common knowledge that Pakistan Real Estate sector has not been doing all that well during the past few years. Bad economic conditions and deficit budget have severely damaged various sectors of the state including its real estate. Due to all of these abysmal conditions, people avoid investing in Pakistan real estate sector.
Many people have lost trust and are not willing to buy properties anywhere in Pakistan due to fraudulent transactions. Buying a piece of land may seem like a petty business but it is a complex process for all those who have never done it before as it requires a lot of market knowledge and some genuine contacts.
Many housing projects are being launched on regular basis, in the outskirts of developed cities that must boost the real estate business but the actual situation is different. There are a lot of limitations that keep people from investing in Pakistan properties. However, there are several ways of being a confident buyer of property. A few of them are given as follows:
Don’t forget to check Area Profile!
It is crucial to know the area profile of the locality where you are planning to invest. It is important because you must know the major developments, important buildings near the area, conditions of the roads, quality of the infrastructure, amenities available in commercial and residential properties and the actual location of the property you intend to buy. If all the amenities are already there, making an investment can be a wise decision.
Do you know the local market trends?
Studying the local real estate market trends can give you enough confidence before buying property. For instance, if you are buying property in Lahore, you must know which areas are posh, which areas are going to be in high demand in near future, what will be the future of commercial or residential properties in the particular area that interests you and last but not the least, what will be the overall performance of Lahore real estate? Once you are aware of all these pointers, you can make a good decision while buying property.
Take help from the independent survey reports!
There are various departments that release annual and bi-annual survey reports about the performance of specific areas of Pakistan Properties sector. Most of these reports are available online. You can take help from these independent surveys to evaluate any specific area of any city.
If you do not want to do this, you can hire a real estate agent to conduct a special survey for you if you are planning to make major investment in real estate sector of any region. These surveys help you in deducing the right decision due to their neutral view point and they also give you an insight of rental rates and sales prices of the properties.
Experience different sources!
There are many real estate agencies that make millions of rupees from a single property transaction. It does not mean you should stop relying on them but you must consult different sources to check the difference in prices before buying properties. For instance, you can check the classified section of newspapers to get an idea of the properties directly advertised by the landlords or independent sellers.
Always remember, a good property buyer is the one who is well informed and active on a lot of forums to dig the real news and takes decision accordingly. The above mentioned points can help you build the confidence before buying a property.


Author Bio:
William King is the director of Pakistan Real Estate, Lahore Property and Pakistan Properties. He has 18 years of experience in the marketing and trading industries and has been helping retailers and startups with their product sourcing, promotion, marketing and supply chain requirements.

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