Fast growth seen in Pakistan real estate sector
Staff Reporter KARACHI: Safety and security drive househunters' decisions about where to live, with these factors outplaying other concerns, such as location and affordability, according to a new report on Pakistan's property market. The findings are contained in new research from Pakistan's best property website, Lamudi.pk, which yesterday released its first annual report on the future of real estate in Pakistan.
The report was launched at a conference for the property industry hosted by Lamudi, held in Karachi on Friday, November 28. Country Director of Lamudi.pk, Saad Arshad, briefed leading real estate agents, developers and media about the findings of the research. Experts from the property and financial sectors were on hand to give presentations and share their views about Pakistan's property market and the investment environment.
The report; Real Estate in the Emerging Markets, provides a comprehensive overview of the property sector in 16 emerging countries, including Pakistan. The report is based on a series of online surveys conducted with house-hunters and real estate agents in each country, as well as onsite data from Lamudi's global net- work of websites. The research examines the habits of online propertyseekers, while offering insights into the future of the property sector, based on interviews and surveys with local property experts.
The customer survey examined house-hunting habits among buyers and renters in Pakistan. Safety emerged as the most important factor for those who are looking for a new home. Whether they are buying or renting, the most important factor for all Pakistani house-hunters when choosing where to live is safety. More than 40 percent of survey respondents said this was the deciding factor when choosing where to live.