Who Is The Ultimate King Of Real Estate?
Real estate has a main role in everyone’s life in Pakistan. Consumers, investors and developers play their own character in the property market. They work collectively to attain healthier yields on investment. When an individual buys a property, he is not just purchasing a house. He is purchasing an asset that will last a generation, or even more than that. The sole-purpose of investors is to gain return-on-investment. They don’t always purchase a property for their own use. First motive is the investment. Developers are the main support of the real estate segment. They are the ultimate investors to deliver the best end product to their customers.
Consumers are the definitely the king of real estate. The growth of the property rests on the consumers. The accomplishment of every new project also relies on the consumer. The buyers usually buy a property when it meets their necessities. Developer is the one who understands the consumer’s requirements and delivers the project accordingly.
There was a period when consumers were most affected due-to-the lengthy stoppage in the sector. But as time progresses, the full execution of the property laws will make the activities of developers further apparent. This will be advantageous to this business that was unregulated.
Real estate-investment has trapped everybody’s consideration. The mounting popularity of property sector makes it further gainful. Property investment is buying commercial or residential property as an income-generating asset for the sole-purpose to resale in the future on the terms of considerable profit margin.
Investors prefer property due-to-the fact that it can generate double to triple returns with the span of time. It is hard to estimate the real return on investment but investors like to see their properties developing on a big scale.
Developers play the most substantial role in property sector. They drive the progress of the industry although they might not be the definite King. They are the association between the buyer’s requirement and building skill. Developers work together to encounter the essential needs of the housing, High Rise buildings, offices and amusement zones like theaters, malls etc.
Their working styles differ in order to meet the diverse requirements of the society. But housing complexes, societies and projects remain the core interest area for development. The developer’s task is to construct a real estate project. Housing is meant for the huge population. So it will always remain in demand. Commercial property also has its particular significance. It is also the source of attraction for the developers as there is always a need of commercial zones around a residential zone or society.
Thus the consumers are the ultimate king of the real estate segment as the investors and developers are there just to serve their needs and requirements and also earn the revenue in doing so. The demand of consumers drives the prices of real estate.