Middle East investors snapping up property in Pakistan

Middle East investors are snapping up property in Pakistan's expanding real estate market in the country's key cities like Islamabad, Lahore and Karachi, according to data released here by a property portal.
Property-seekers from the US top the list of foreigners searching for real estate in Pakistan, followed by Saudi Arabia, the UAE, UK and Canada.
Pakistan's real estate sector is currently seeing increasing interest from foreign investors, data released by property portal Lamudi shows.
Despite political protests in August last year dealing a blow to the country's economic outlook, the real estate market has since rebounded and the property sector is now poised for growth in 2015, leading to improved investor confidence, a statement released by Lamudi said.

"In recent months, we have seen renewed interest from overseas investors inquiring through our website. This comes after the economy has shown signs of recovery after last year's political sit-ins, and with it the real estate sector has also rebounded," Saad Arshed, Country Director of Lamudi Pakistan, said.
Property market growth has been stronger in the capital - Islamabad and key cities including Lahore and Karachi.

Data shows that the US is the leading foreign investor in Pakistan's real estate market, with the highest number of overseas views and leads coming from the country.
"Foreign investors and overseas Pakistanis based in the Middle East, particularly Saudi Arabia and the UAE, are also showing interest in Pakistan's buoyant property sector," Arshed said.

"As the real estate market continues its recovery, we predict that these factors will help further spark the interest of foreign investors in Pakistan's most promising investment sector," Arshed said.
Lamudi is a global property portal focusing exclusively on emerging markets. It is currently available in 32 countries in Asia, the Middle East, Africa and Latin America, with more than 900,000 real estate listings across its network.