Budget termed good for property market

June 9, 2015 Off By Web Desk

Karachi: The recently announced 2015-16 federal budget will brings positive changes to the real estate sector of Pakistan. With relief measures for developers and builders as well as reduction in taxes for people engaging in real estate investment trusts, it has given a boost to this multi-billion dollar industry.

Saad Arshed, Country Director of Lamudi Pakistan, said in a statement that the relief measures provided by the government will indeed have a positive impact on the real estate industry of Pakistan. All these reduction in taxes and import duties will definitely give a boost to the housing and construction sector of Pakistan and help in mitigating its housing backlog.

With the reduction in petroleum prices since last year there was a reduction in transportation costs of housing materials for construction. With these further deductions in taxes, it will further reduce the housing construction costs and will overall have a positive impact on the real estate industry.”

The government has taken positive measures to revive the real estate activity of Pakistan. The builders and construction industry will benefit manifolds by all these incentive measures introduced. All this will create more employment opportunities in this sector and have a positive impact on its further 16 allied industries too. The construction sector creates a positive ripple effect on 16 other industries of Pakistan and the government has taken certain measures to provide incentive packages for it.