Demand for residential properties in Pakistan grew in 2010, leading to increased interest among real estate developers and investors. Since prices have exceeded 10 million PKR, new housing developments are often aimed at the upper middle class. To assist the real-estate sector, the Government of Pakistan announced a reduction in interest rates on mortgage loans in 2012.
Moreover, many more billions are spent on buying residential and commercial plots. Pakistan real estate sector worth anywhere between $300 to $400 billion.According to the Pakistan Bureau of Statistics,construction output accounts for 2% of GDP, with housing representing less than half that total. With the rate of urbanization that Pakistan has been experiencing, there is a growing need for urban planning.
Pakistan,officially the Islamic Republic of Pakistan,is a country in South Asia. It is the world's fifth-most populous country with a population exceeding 212.2 million, and has the world's second-largest Muslim population. Pakistan is the 33rd-largest country by area, spanning 881,913 square kilometres (340,509 square miles). It has a 1,046-kilometre (650-mile) coastline along the Arabian Sea and Gulf of Oman in the south and is bordered by India to the east, Afghanistan to the west, Iran to the southwest, and China to the northeast. It is separated narrowly from Tajikistan by Afghanistan's Wakhan Corridor in the northwest, and also shares a maritime border with Oman. Pakistan is the site of several ancient cultures, most notably the 8,500-year-old Neolithic site of Mehrgarh, the oldest in South Asia,and the Bronze Age Indus Valley Civilisation, the most extensive of the civilisations of the Old World.The region of Pakistan was the realm of empires and dynasties, including the Archaemenid; briefly that of Alexander the Great; the Seleucid, Maurya, Kushan, the Gupta; the Umayyad Caliphate in its southern regions, the Ghaznavids, the Delhi Sultanate, the Mughals, the Durrani Empire, the Sikh Empire (in the Punjab region), East India Company rule, and, most recently, the British Indian Empire from 1858 to 1947.