The real estate sector and businesses at large have been recently hit by the COVID-19 pandemic. Since the beginning of this year, the pandemic has negatively impacted all the businesses regardless of their nature. Since the pandemic spreads on a personal contact basis, so social distancing earlier became the main hurdle for businesses at large. However, since the time has passed, social distancing and COVID testing are now the new normal. The business sector is in a phase of learning to live with the new normal that COVID-19 has inducted. The real estate sector has also been drastically hit by the pandemic. The main brunt has fallen on rental properties as much of the workforce throughout the world has undergone major shuffling. We have seen lays off happening in some of the most dominating and prosperous sectors of the business and it is still continuing. The world is slowly, yet steadily, adapting to the new normal.
Although the pandemic has impacted negatively at large on the real estate sector. Some sectors of the real estate industry are of the view that now is the best time to move your investment in the real estate market. There are multiple reasons for this. According to the real estate experts of Pakistan, the Pandemic has shaken the vibrant real estate market of Pakistan. Currently, it is a buyer’s market in the region and now is the right time to move into investing in real estate.
The main reason for Pakistan becoming a buyer’s market is that the demand and supply mechanics of the real estate industry of the country have been shaken. Now there is a large supply of properties in the market with lesser buyers. This fundamental shift in paradigm has made the sellers of property lower down the prices of property to beat their competition in the market. Since the buyers are few, so the competitiveness of the real estate seller’s market has increased. Every seller wants to dispose of their inventory as quickly as possible and this has given rise to cut-throat competition in the market.
This is the main reason that amid Pandemic COVID 19, it is largely a buyer’s market. Now is the time for most of the real estate investors to make their moves for properties that they have been eyeing for. The reason is that these properties are now available at a lower price tag and some of the real estate developers are even ready to dispose of their properties at zero down payment with a monthly recurring payment. This market is also feasible for saving your cash flow from going bust in the lust for high-end properties.
According to the real estate experts at Deal & Deals – a premium real estate company of Pakistan – most of the new investors are now entering the market for harvesting long and short-term gain. The major influx has been seen in the residential sector of the private housing society. The real estate agency further added that most of their new clients and investors are now going for societies like Capital Smart City and Blue World City Islamabad due to easy payment plans, quick development work, and ideal location.
Most of the real estate experts of the region are of the view that the Pakistani real estate market is currently a buyer’s market. And now is the right time to invest in real estate since the prices are low and real estate developers, at large, are under pressure to offer deals that are beneficial for the investors.
