As per World Bank’s estimations for Pakistan, the real estate sector makes up 70 per cent of the national wealth and significantly contributes to GDP. Unfortunately, no indigenous university offers specialisation in real estate management to business graduates. It impedes the way forward for corporate-level research in the sector.
Under universities’ capacity to conduct research, the business graduates could develop the real estate sector manifold. The current market runs on the shoulders of property agents who have either little or defective knowledge of the industry. The investors call for actual assessment and lucrative consultancy but are often entrapped. This is where the financial exploitation of investors holds its roots.
The current market needs researchers in multifarious areas: land allocation for urbanisation, actual property valuation, the aggregate volume of rental property, training and registration of real estate professionals, provision of amenities, the cost-benefit ratio of various locations, mechanism to take real estate companies to the Pakistan Stock Exchange and principles of housing finance.
Moreover, market risk assessment, scam-free property transactions, taxation matters and total volume of residential and commercial property constitute the list of researchable domains. All this requires putting the best talent into action. Universities could establish real estate research centres at a corporate level to impart research papers to…
