The Confusion surrounding Real Estate
Real Estate, everyone seems to have a general idea about it and hardly anyone actually knows what it really is. Some see it as a mere industry, like all others, running in the economic habitat of the country. Whilst some, on the other hand, look at it as an investment opportunity. For a beginner, all of this can be a confusing mess. You know about a few famous properties such as Bahria Town Karachi or you just know that there is a local estate shop down the street. Let’s clear things up and briefly talk about all that you need to know about real estate:
Definition and Importance
Real Estate is property. That property can include both a piece of land, a building and a house, among other structures. Remember Monopoly? Buying and renting estates? Those are your first real estate transactions, at least fictional ones. Monopoly may cause several fights among-st your friends, the real estate market is even more competitive where the price is higher and the losses are dire! The real estate market includes transactions of properties. These transactions include: sale, purchase and renting. Investing in real estate is a business opportunity which has produced numerous millionaires!
The real estate of any country can make or break its economy! In USA, there is no other business which has created more millionaires! Real estate can be a major contributor to a country’s GDP and has successfully created hundreds of thousands of jobs. Real estate isn’t just buying and selling property! It’s an industry which is closely knit with engineering, finance, architecture and even domestic labor.
There are several types of real estate properties:
Bungalows, flats and apartments where the masses reside and call their homes. Residential real estate ranges from Industry giants such Bahria Paradise to a landlord in your neighborhood.
Shops, hotels and offices where people work at. These are places of business and day to day commerce.
Factories such as Beverage manufacturers
Farms. These include cattle herding, fish and crop harvesting farms.
Pakistani Real Estate
Pakistan’s real estate market, just like the country itself, is developing and the the perfect place for Investment is Bahria town Karachi. Whilst not being a major contributor in the economics of Pakistan pre 2000’s, real estate here is one of the best performing in the world! The biggest factors for the rapid growth in prominence for real estate has been rapid urbanization and a population boom. The opportunity to grow has been phenomenal with properties such as Bahria Sports City Villas, among others, being a testament to the industry’s power!
Real Estate is not that difficult to understand. Obviously there is a lot more to it than what this brief article can explain. What this brief article can do, however, is provide you with a solid base to move forward. There is a lot of opportunity in real estate and a lot of things to learn. One thing is for certain, real estate holds a bright future!