Real Estate Post the COVID-19 Crisis
The Coronavirus pandemic has caused a huge economic downturn. Many of the people who were planning to buy homes are now staying at home and waiting for things to get better. Others have decided that it’s too risky, or they simply don’t want anything more than their current living situation. This is driving down sales prices across many markets in the world. Even if you find an amazing property, there may not be any buyers willing to pay what you’re asking because of the uncertainty surrounding the economy. If your property isn’t selling right now, it could take time before another buyer comes along. You need to stay patient. It will all work out eventually.
If you do decide to sell, consider offering incentives to potential buyers. Maybe offer them a percentage off their purchase price if they agree to make an immediate payment instead of putting money down on the spot. Or maybe give away one-month free rent? These types of offers can help boost your sale price while still keeping some cash in your pocket until things pick up again.
There are also ways that you can cut costs without hurting your bottom line. Try shopping around for quotes from local real estate agents. Some companies like SHAARIQ offer great tools to compare multiple listings based on comparable properties. Don’t forget about those friends and family members who might know someone looking for a place to live. They can be a big asset when it comes to finding new properties or negotiating with sellers.
Pakistani Real Estate Industry Post COVID-19
As we enter the post COVID-19 era, the Pakistani real estate industry has been hit hard by the economic slowdown. The government’s recent decision to ban foreign travel has further impacted the sector as international investors pull back and wait for the market to stabilize.
However, despite the challenges, there are opportunities for those seeking investment in Pakistan. Our country has seen rapid growth in population over the last few years. In addition, the government is committed to increasing the number of affordable housing units built each year. We believe that this will continue to create demand for quality residential real estate assets.
We are seeing increased interest in our secondary cities such as Karachi, Lahore, Peshawar, Quetta and Rawalpindi. There are also signs of recovery in some urban centers like Faisalabad and Multan. We expect these trends to continue into the foreseeable future.
Should You Invest In Real Estate In Pakistan Now?
Even though the global economy has slowed considerably since the coronavirus crisis began, we are hopeful that it will begin to recover soon. That said, the financial markets remain unpredictable. It’s always best to avoid investing in anything that you cannot afford to lose. As long as you have some savings set aside, you should be able to weather most short-term setbacks.
In the meantime, we recommend taking advantage of the opportunities available through investments in Pakistani real estate. Our country has experienced a period of significant economic growth over the past decade. This has led to an increase in the standard of living for many families. Many of these individuals are looking to move to a higher quality of life in our secondary cities. We believe that this will continue to create demand for quality residential real estate assets.
Final Words
The world has changed drastically during the course of the Covid-19 pandemic. Travel restrictions have been put in place to prevent the spread of disease and slow the rate at which it spreads. Businesses are being forced to adapt quickly or risk losing customers. The stock market has taken a beating and people are concerned about their own financial stability.
That said, there is no reason why the real estate industry can’t continue to thrive. Property values are expected to rise once the economy begins to recover. Buyers will be eager to take advantage of lower prices and move to better neighbourhoods. Sellers will be happy to accept a reasonable offer in exchange for an easy sale.
