Real estate business is continuously growing in Pakistan as about $5.2 billion is spent on the construction sector each year in the very same country. Along with this, much more billions are spent in order to buy residential and commercial property in Pakistan. Great revenues are generated each year from local investors as well as overseas Pakistanis. There is also an availability of portals which is facilitating people in the real estate in a better and demonstrative manner. We are going to give you some of the important tips which you can use for starting up your real estate business in the country. If you are new to have a real estate startup business in Pakistan, there are a few golden rules which you must remember!
NUMBER ONE: General Rule of Thumb. If you are new, always look for properties which have lesser price rates in the market. For example; pick people who want to invest in further developments and their payments are stuck in one project which is why they are selling at a lower price.
In the case above, make sure that you do not forget your transfer fees as well as the taxes in the preexisting market price. This kind of people does not give you grace period which is why you should not think twice before opting this to make money quickly!
NUMBER TWO: When a famous and renowned developer announces a new project on a good location, be sure that you buy property when the bulk is available. If there are only limited files available and more are yet to come, don't go on that road in your new business.
The above advice is given because people who buy plots when the project is newly announced gain tremendous profits. There are hefty gains in the property when the price falls and these gains last for a longer period of time.
NUMBER THREE: Be surrounded by real estate experts if you are new in the real estate field so that you can always remain updated about the market pulse and different ups and downs occurring in the market.
Like any other business, there are different trends in the real estate sector about which you need to stay updated if you want to sell property in an honest and demonstrative manner. Always remember, there are plenty of other fish in the sea and your client will not take a minute to replace you with another knowledgeable real estate agent even if he offers a higher bid than you.
These are some of the important tips which you need to take care of when you are looking to set up a start-up real estate business plan in Pakistan. This is how; you can easily make money in the real estate sector in this country. In a nutshell, even if you get stuck somewhere, it is no shame to ask for expert advice. Even a doctor consults his seniors when he’s sick! For a larger outcome, it is a small price to be paid.
