Impact of Covid-19 on Real Estate Industry in Pakistan

Covid-19 impact on real estate has brought about some positive and negative changes. While the construction business has been affected due to partial and full lockdown all over the country, it has transformed the traditional real estate landscape, and introduced online platforms to showcase their projects. So now you don’t need to visit any site physically, but you can check out the property’s features with the click of a button and make the purchase decision. If you want to gauge the amount of impact Covid has brought to the real estate industry of Pakistan, then this blog is for you. We are about to give you an insight about how the industry has changed in these couple of years.

More Demand of Eco-Friendly Projects

There is an increasing demand for environment-friendly housing projects. While earlier people used to prefer a residence near a school, hospital or a restaurant. Now, people want to live in a house that offers open green spaces, is much less dense and has the capability of keeping residents entertained and happy within the house they plan to live in. Whether you are a student, housewife or a working professional all members of the house have to live under one roof all day because of the lockdown. That is why people are now looking for houses that provides these facilities to the residents.

Virtual Tours

You must have also witnessed a positive change in the real estate business in Pakistan. Businessmen are now resorting to hiring top real estate digital marketing companies that can help showcase your project the right way. Instead of physically visiting the location, people can view the building which is yet to be constructed from the comforts of their home. The project can be visualized via 3D animation and any redesigning can take place with the help of the video.

Online Sales

It has also reinforced people’s trust in ecommerce and buying things online. Overseas Pakistanis have almost always made the purchase online. People are now eager to make the buying decision based on what they see on the internet. This has given birth to new digital marketing strategies and has in fact boosted online sales.

Home Office

Instead of the usual real estate companies, they are now being opened within the house. The concept of working from home has taken hold of. Home offices have helped businesses, especially real estate in Pakistan to flourish. You can work and close deals while sitting at home. Setting up a home office, managing kids’ education online and doing grocery shopping online has become the new normal. Apart from giving the real estate marketers a boost, one can see the rising demand in home office rentals. People are looking for a house with an office space so that they can work from home.

Advanced Property Features

There is a changing trend that can be seen. Homebuyers are now searching for houses with advanced property features that can facilitate them, especially in situations like Covid where they are stuck at home all day. There is a mounting level of stress and anxiety which has overall affected the mental and physical health of people staying within the house all day. Bouts of depression and anxiety attacks are a common sight. Owing to this most homebuyers are looking to buy a house that has all the features that would help them be healthy both emotionally and psychologically. We hope this blog will help you understand the impact Covdi-19 has brought on the real estate market of Pakistan. Homeowners are increasingly looking for options with more open green spaces. Residences closer to hospitals and schools are more in demand. People seek a residence where the availability of a doctor is prompt. Most homeowners are actively looking for a house on rent in areas which have a good effect on mental well-being. Smart and eco-friendly homes are liked more by both homeowners and people in general. Families with school-going children are also more keen on buying a house which is well-connected to nature and has more green spaces within the compound so that the children enjoy and have a fun time within the premises.

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