WNAM REPORT: Vice President and Spokesperson of the Federation of Realtors Pakistan, Rana Akram, has welcomed the reduction in property transfer fees, stating that it will help revive the construction sector and create new employment opportunities.
He urged the government to provide further facilitation to the real estate sector, reduce unnecessary taxes, and ensure consistency in policies so that investors can make long-term investments with confidence.
The Islamabad Real Estate Association and the Federation of Realtors had taken a firm stance against increasing property transfer fees to three percent and continued protests for several months. As a result, the fee has now been reduced back to one percent, which is a positive development for the real estate sector.
The reduction in fees will restore investor confidence and significantly boost buying and selling activities. If the government continues to introduce business-friendly policies, Pakistan’s real estate sector cannot only support the national economy but also become an attractive destination for foreign investment.
