Change in Interest Rate by State Bank of Pakistan and its Impact on Gulberg Residencia Islamabad | Real Estate Sector
The people who are interested in real estate sector, for all of them have good news. The State Bank of Pakistan has announced the new rate of interest. In the current situation when economy and especially our real estate sector is facing downfall, this news is worthy to most of us. Everyone is looking at the government for relief and positive decisions, mainly after the huge increase in tax by FBR.
What is new rate of interest? How it will impact the real estate sector particularly Gulberg Residencia Islamabad? Along with it we will discuss the major reasons of downfall of our real estate sector. When the downfall started and whether there are chances of its boom in future or not? In todays article we will cover these common concerns of people.
What is New Interest Rate? Its Impact on Gulberg Residencia Islamabad?
Unfortunately, the trend of interest is increasing in Pakistan day by day. But the good news is that State Bank of Pakistan has announced reduction in interest rate. First, they reduced the interest rate slowly from 22% to 18%. But now they declared it at. 15%. So, now the new interest rate in Pakistan is 15%. It is expected that interest rate will be reduce to 8% – 9% in the future soon.
What will be the impact of this news on real estate sector and on Gulberg Residencia Islamabad? From previous few years, people kept hidden their money at homes. The circulation of money was stop. Now after this news hope so hidden money will come into the market. It will be invested in the industries specially in real estate sector. Hopefully circulation of the money will start again.
This is really good news for the investors who are thinking to invest in Gulberg Residencia Islamabad. Because the condition of real estate market is now very better than the past few years. The market was facing the downfall after the corona pandemic but with the passage of time market is going up gradually.
Reason of downfall | Real Estate Sector | Gulberg Residencia Islamabad
The real estate market was on boom from 2017 to 2022. Even though whole world was facing downfall, the condition of real estate market was very much better in corona pandemic. We survived relatively better in corona pandemic. But then wrong people entered into this market. They launched their housing societies, they sold the files and then disappeared. They also did many frauds in commercial projects. They offered interest schemes to people so that people deposit their money to them. Instead of paying back money to people with interest they ran away from the market.
Due to these fraudulent activities, a large amount of money was outed from the market and it break the trust of people. As a result, many people stopped investing in the housing schemes included Gulberg Residencia Islamabad. But the management of the Gulberg Residencia clearly say that they have zero tolerance policy for the builders or for the people involved in these types of activities. They also took immediate actions against such builders or people and blacklist them. Now the situation is change and people are investing and market is going up with a passage of time.
Conclusion
As situation of real estate market is now better and it is going up gradually. It is highly recommended to the investors specifically for those who are thinking to invest in Gulberg Residencia Islamabad, buy the property. It will pay back you high profit in the near future. Always make deals of plots through trustworthy people. Even if you are going for file system make sure that land is clear and have no legal issues. It is really an appreciative step from government of Pakistan which produce the charming situation for the investors. It is expected that interest rate will be decrease more in future.