How corona virus is affecting house prices and rent in Islamabad

In the wake of the rising number of cases of “CoronaVirus” particularly in Pakistan and the potential economic meltdown over the next few weeks and months, it is quite pertinent to discuss the impact of COVID-19 Pandemic on the real estate sector of Pakistan.

The coronavirus pandemic will, however, do more than changing the way we might feel about our homes. It has the potential to have a huge impact on property markets around the world. 

There are certain factors that put a full stop on house prices and rents. Since the pandemic has vigorously taken over Pakistan, there have been ups and downs in real estate market trends. 

Instability of job

According to the current situation in Pakistan, the business graph is going down and due to halt on everything, the job situation is becoming tough. Downsizing is happening worldwide which is not letting people pay rents on time. For the same reason, people are avoiding buying property or moving out of their current home.

Lack of opportunities

Due to the lack of new opportunities in the job market people are not willing to move out of their current home and look for a new property. The instability of the current market is forcing people to maintain their budget accordingly. 

In these situations, we can only create more opportunities for people who have lost their jobs, daily wage earners, and to support small businesses. This can lead to people covering up their expenses and managing their budgets accordingly. 

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