Despite the tough economic conditions prevailing in the country, realtors and development agencies are busy marketing their schemes. It is believed that real estate still dominates in attracting investments from large-scale investors as well as ordinary individuals with some savings.

High risk in other sectors such as trading or manufacturing, absence of advice and information regarding parallel opportunities, aggressive marketing by realtors, and the psychological affinity of people towards property investments are a few reasons.

Given that there is an overall interest in land and property enterprises across the country and beyond, the trend of investment is likely to remain stable in this direction. However, efficiency in the real estate market is constrained due to some basic handicaps.

An element of doubt always lurks behind the validity and veracity of transactions, both for buyers and sellers. Complicated procedures of documentation, the spread of corrupt practices on the web, weak legal safeguards, and, above all, limited access to information are some barriers that adversely affect the performance of the real estate market.

Computerised record-keeping can eliminate deceit, encourage transparency and enhance property tax collection

While the sector is in dire need of comprehensive reform, creating an efficient and scientifically structured real estate information system is the first step in the........

© Dawn Business