Real Estate Property Guide
Real estate can be described as the property which consists of land or any building. Whereas the business of sale, purchase and renting out properties is called as real estate market. Lets discuss real estate property in detail and get all the information about Real Estate Property Guide
Types of real estate property
Real estate has four types, residential, commercial, industrial and agricultural. Real estate includes the land, house, flat, office building, commercial center, industry and agricultural land.
Real Estate is major economic sector
Real estate sector has major contribution to economies. In developed countries, real estate contribution in GDP is up to 10%. In advanced countries, real estate is not just buying and selling of properties but an industry which creates million of jobs. This is the major reason that western countries have included real estate development in national policies.
Pakistan real estate sector at a glance
Pakistan is a developing country. Real estate sector never played an important role in national GDP before 2000. But after the property boob of 2003-2005, real estate sector has significant contribution to national economy. Now real estate sector has developed as an industry in Pakistan. Booming real estate sector in Pakistan has created millions of jobs. Due to fast population growth and fast urbanization in Pakistan, real estate sector is now considered as the best investment.
Pakistan Real Estate Sector needs reforms
Pakistan real estate sector is one of the best performing market in the world. This is why Pakistan real estate sector has attracted huge direct foreign investment. This is just the beginning as we need to solve many issues like property scam and frauds. The government of Pakistan should recognize real estate sector as an industry and should be included in its infrastructure developments. All these reforms will help attract more investments in the sector and will create millions of jobs.