Faisalabad was known for its bumpy and un-kept roads. It is no longer the city’s reality because all the wrecked roads are being replaced by carpeted highways and wide tracks. For Faisalabadi citizens and all the people living in nearby areas, it was a long awaited development. All the adjoining towns and villages seem to be benefiting from this slow yet constantly happening change. People are happy because now they can easily move from the nearby villages to the commercial areas of Faisalabad.
FDA (Faisalabad Development Authority) has noticed this change and allowed many developers to launch housing societies near commercial zones to meet the increasing needs of people coming to reside in this city due to business and working opportunities. The present situation appears to be the most suitable condition for real estate sector betterment but in reality, it is nothing like it.
Inflation has taken its toll on Faisalabad real estate sector as well. And the remaining conditions are include high interest rates, strict bank loan terms, electricity load-shedding issue and poor amenities that are combined to squash the life of real estate sector over there as well. Faisalabad is one of the biggest industrial cities of Pakistan that offers job opportunities to hundreds and thousands of educated and poor people as well. But people are not willing to invest in the real estate of this city due to inflation, power crises and other difficulties.
Real estate sector has already become unaffordable for the masses of Pakistan and the prevailing conditions are preventing the rich class as well to invest in any new housing project with complete confidence. Therefore, people from nearby towns are forced to go back to their places after finishing the jobs and professionals are residing alone in small apartments because they do not want to bring their families to Faisalabad. And for that reason they do not consider investing in Faisalabad real estate on permanent or for long term basis.
Faisalabad real estate can generate big revenues but if the situation will remain like it, it can never force people to invest in this sector. Authorities must ponder to rectify the situation on priority basis.
Related News
