Since time immemorial, Pakistani newspapers, news outlets, and social media platforms have been flooded with advertisements for brand-new, gleaming housing projects, luring people to upgrade their lifestyles or make investments in plots of land and properties in Pakistan's major cities and bid farewell to the rural way of life.
The majority of these large- and medium-sized residential developments are aimed at middle-class people who work their entire lives to fulfil their desire of owning a residence. Private developers take advantage of this by transforming the purchasers' intrinsic desires into dream homes in Pakistan that have robust infrastructure, improved security, and public amenities. These projects also meet the buyers' wants and their budgets.
How does the data show?
Out of Pakistan's total population of 208 million, it is estimated that more than a third reside in the country's cities, where there are an estimated 20.01 million homes, and the remaining almost 13 million are located in rural areas. Another estimate that clarifies the housing shortage problem in Pakistan shows that there are currently 11.4 million homes lacking housing, and that number is expected to rise to 17.2 million by 2025. This data showed that population increase is directly proportional to the increase in the number of flats for rent in Pakistan.
Affordable housing options
It is a commendable move on the part of the current government because the lower income groups, who would otherwise be forced to live in slums, cramped quarters, or informal housing units like families who have lived in the same house for generations, account for more than 50% of the demand for new homes in Pakistan. On the other hand, private developers frequently launch new housing developments to satisfy middle-class and upper-class needs for high-quality homes in Pakistan that are complemented with upscale amenities and facilities.
Pakistan's need for homes will rise due...
The need for homes in Pakistan is expected to increase from 1.07 million units annually in 2020 to 1.24 million units annually in 2025, with the majority of these increases occurring in metropolitan areas, according to property developers and industry experts, who cited the existing shortage and demand. There are many causes for this increase, including the migration of people relocating from Pakistan's rural areas to its cities in quest of better employment prospects and a higher quality of life. Second, in order to address the housing shortage, the government has come forward and said that it will offer loans through its low-cost housing programme to close the gap between the supply and demand of housing units in the nation.
What part does the government play?
The Naya Pakistan Housing Development Authority would receive a subsidy of PKR 30 billion from the Pakistani government in order to build homes in Pakistan for people with lower incomes. For the construction of more than 7,000 housing units across Pakistan, it has already released PKR3.35 billion. Additionally, the government declared tax relief for the construction industry by referring to it as an industry that will significantly contribute to the growth of Pakistan's real estate market. In addition, the government has announced liberalization of the sector, changes to building codes, a reduction in capital gains taxes, and a decrease in sales taxes on building supplies. These changes will assist allied sectors like cement, steel grow in addition to providing direct benefits to builders and developers.
Pakistan's housing crisis: a regional burden
The country is suffering from a serious housing shortage, and Pakistan's need for high-quality homes is growing every year. It is a significant problem that must be wisely addressed by reforms and legislation. Contrarily, how prudent is it to destroy the eco-natural system's equilibrium and eat up the fertile grounds in order to build a concrete jungle? Even if the housing shortage may not be addressed by inadequate management and poor planning, this could eventually result in food insecurity.
The green spaces that are used to delineate the limits of major cities have been destroyed by population growth and massive migration of people into urban areas. The same pattern has recently been seen in smaller cities as well, as in Multan, where gardens full of mango trees were recently cleared in order to build housing projects. Previously known for its flora and crops, Punjab and southern Sindh now feature a significant number of concrete jungles.
The scenario in the nation's textile capital is comparable, as you can see by the innumerable brand-new gated home developments in the northeast of Faisalabad city. It is difficult to believe that these opulent homes in Pakistan were once rich fields where wheat, sugarcane, cotton, and a number of other seasonal commodities were grown. Not only in Faisalabad but also in and around large and smaller cities all over the nation, hundreds of housing projects have popped up in recent years.
The property is being bought from the farmers by promising them a higher price for their land and attracting them with alluring promises of a better lifestyle and extravagant sums, which has led to more houses being built than there are open spaces. The administration and decision-makers are in a frightening scenario because they don't seem to care that normal harvests and necessities like wheat and sugar are being imported from the neighbouring nation. In order to avoid future problems with food security, the government of Pakistan must stop turning a blind eye to the country's farmers and look into the problem carefully in order to find a workable solution for everyone.
