We all have witnessed how CPEC has turned out to be a driver of transformational change in Pakistan’s economy. It has also brought revolutionary changes in the real estate sector of the country by linking Gwadar seaport to Kashgar located in China. This link will serve as a major trade route for both neighbouring countries.
Owing to the success of this Pak-China project, Pakistan’s real estate has grabbed the attention of several investors from all over the globe who are looking for a profitable investment opportunity. Due to the same reason, there has been a considerable rise in the real estate projects in the country.
More Opportunities for Builders, Property Agents, and Real Estate Developers
The dynamics of the real estate sector have changed dramatically ever since CPEC began. Now it is time to foresee the future of real estate in the country in perspective of this immensely successful project. Pakistan’s real estate industry is witnessing an upward trend and a significant increase in real estate projects can be seen. These developments are expected to create massive employment opportunities for the builders and property agents. Prospective employees will need to relocate to various stations to market and sell properties. This will be extremely beneficial for the local property agents, real estate developers, and builders.
Safer and More Promising Investment Sector
Properties that were not of much value a decade ago have become the most sought-after ones in Pakistan. Real Estate developers and builders have reported an increase in interest of investors, which is expected to result in a hike in property prices in near future. CPEC has given a tremendous boost to Pakistan’s real estate industry, making it a safer as well as a more promising sector for investment.
The effect of CPEC on the economy of Pakistan will be huge. It is expected to give the economy a major boost by creating thousands of jobs. As per Harvard International Development Research Department’s findings, in the next 10 years, the annual development rate of Pakistan is expected to rise to 5.07%. An economic boost would also lead to an increased demand for accommodation and the huge demand for land would have to be met. With more individuals being able to purchase property, Pakistan real estate would thrive. The actual impact, however, would be witnessed after 2020 when the project is completed and becomes functional.
When the trade route between Pakistan and China will be established, then the need for good road infrastructure would also arise. It’s a proven fact that road infrastructure impacts the worth of the places around it. A proper road infrastructure will significantly affect the real estate sector of Pakistan as the prices of plots, houses, and even rental flats will increase. Moreover, owing to the development in Gwadar, many shopping malls, hospitals, and schools are expected to be built in the city. Also, with many immigrants arriving at the Gwadar port, the land value will rise considerably. This, in turn, will further boost the real estate of the country.