Although there are no direct taxes on Pakistan real estate, industries closely related to it, such as cement and fuel, have been adversely affected. These indirect impacts have caused an increase in construction costs for new houses and have driven up the prices of already constructed houses. As a result, sellers in the real estate market have been able to earn substantial profits.
It is crucial for investors in the real estate sector to understand how budgets and economic policies can influence the market. Factors such as taxation policies, government spending on infrastructure projects, interest rates, and foreign investment policies can all significantly impact property demand and prices.
Given the current depression in the real estate sector, it is a favorable time for investment. Buyers can take advantage of low-priced properties and explore new investment deals introduced by various real estate societies.
On the other hand, individuals planning to sell their property may find it more beneficial to hold onto it for the time being, considering the increased construction costs and house rates.
In conclusion, the Mini Budget 2023 has indirectly affected Pakistan’s real estate market by driving up construction costs and house prices. Despite these challenges, the current market conditions offer an opportunity for investors to make profitable investments in real estate.
