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Smart Apartments, The Future of Luxury Living

By Skyward,May 12, 2021March 29, 2022

Smart Apartments, The Future of Luxury Living: We are stepping into the future with the evolution of real estate and living standards in society. The times are changing and people’s requirements for their perfect apartment, are also evolving along with it.

When looking for apartments to buy, people are now seeking out the top apartment amenities available in the market. This change in perspective of the buyers, from a traditional outlook on real estate to technology-friendly architecture, is creating competition in the market among the best real estate developers in Pakistan. This shift is leading renters and homeowners to prefer smart amenities over the general traditional facilities. The reason behind this? Because smart homes make our lives easier, convenient, and enjoyable. The automation of basic amenities helps people save money and also lets them have more time on their hands to indulge in things that they love.

As more and more people are shifting to a suburban setting, there is a higher demand for apartments in the market. To reel in interested buyers, real estate developers now have to include smart amenities and enable the apartment to support smart devices. This integration of smart technology into the homes and apartments of people is giving rise to luxury living in a refreshing new way.

Smart Amenities and Their Rising Importance

On the surface level it may look like that people want smart apartments due to the appeal factor, but it is more than that. The smart amenities available give a sense of security and peace of mind to the residents, providing them with affordable living. The best real estate provides all these benefits along with flexibility and convenience in apartments. Which is why having smart homes is an attractive idea, because of the value it brings to residents’ quality of life.

Top Smart Apartment Amenities

Among the various and diverse amenities available now for real estate developers to integrate into the design and structure of modern apartments, the most common and efficient smart amenities are as follows:

Smart Lighting

Equipping your apartment with smart lighting that can sense movement and turn on/off automatically is a great way to save costs and lower energy consumption. It is convenient and adds a flair of futuristic factors, adding to your luxury living. The customizable options and features are a great plus. They can be set according to the occasion to set the mood and match preferences.

Smart Locks

Smart locks are one of the best ways t amp up your home security. It allows for a keyless entry into the apartment and automatically locks the door when you close it, stopping you from wracking your brain to remember if you locked the door or not. An alert is also given to the resident through apps along with an automated noise designated for the opening and closing of the door.

Smart Security Systems

Home security is a main concern for every renter. Home security systems are becoming a must-have to give peace of mind to the renters. An added benefit of this feature is that you can keep yourself updated about any activity in or around your apartment.

Smart Appliances

Smart appliances are a great way for residents to add ease into their life. They make doing menial tasks a piece of cake, but also save money. Equipping the apartment with smart TVs and fridges appeals to the residents and makes daily tasks less of a hassle. Having smart appliances provides a turnkey experience to the residents and also reduces maintenance costs for the property owner with lower energy use.

Voice Control

The idea of smart home technology gained popularity through voice assistants like Amazon’s Alexa. This technology changed the way that people interact with their homes and elevated their experiences. Nothing screams luxury like a voice assistant ready to help you and answer your questions whenever you need!

Conclusion

The future is here and it is time to adapt to it, accepting it into all areas of our lives. The concept of smart apartments does not only embody luxury but also convenience and saving. The revamping of traditional real estate’s architectural design and structure needs to accommodate these new features and technologies. This will help improve resident experiences and enhance their quality of life. That’s all form blog “Smart Apartments, The Future of Luxury Living”.

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Challenges Faced by Pakistan’s Economy Due to COVID-19

By Skyward,April 26, 2021March 29, 2022

Challenges Faced by Pakistan’s Economy Due to COVID-19: COVID-19 has struck the world with an unexpected crisis that no one was prepared for – Pakistan being no exception. The novel coronavirus dismantled economies worldwide, with the developing third world countries bearing the brunt of the damage due to their weaker institutions and unstable political and social conditions.

COVID-19 Impact on Pakistan’s Economy

In the recent few weeks, the COVID-19 situation has started getting precarious in Pakistan again with the rising numbers of cases and deaths reported per day. The major cities of Pakistan have a much higher positivity rate with hospitals reaching maximum capacity and resources running thin. These serious circumstances led to the government taking action to control the spread of the virus and minimize the potential threat that lurks very near.

The basic course of action for many governments around the world has been to impose lockdowns that limit the activity of people and businesses, thus controlling the spread of the novel coronavirus due to social interactions. These social impositions though necessary, have brought forward another major issue for Pakistan, with its economy taking a hit and suffering losses because of small and medium sized businesses being forced to shut down due to lack of business and sales.

Commercial markets, amusement parks, restaurants, marriage halls and cinemas have all been put under control or closed under law to discourage movement of people and social gatherings. These steps have been taken for the safety of the people but many are raising complaints because of them being laid off of work and struggling to earn money to support their families. Pakistan already has a strained economy and the present government inherited a vulnerable and debt-ridden economy, so the recent events have presented a grave challenge for the country.

Outbreaks of such scale also put the focus on the fractured health system and institutions of Pakistan that are struggling to keep up with the needs and requirements of the current pandemic head-on. There are limited resources available for the health sector to deal with the crisis and is struggling to remain afloat.

A downturn in the GDP of Pakistan has been observed due to the current situation however, the growth rate of the country which took a downward turn in 2020 with a figure of -0.39% is now expected to recover with a growth rate of 1.5% states IMF. Investments also dropped with investors being uncertain about economic performance, with Foreign Direct Investment (FDI) in power, telecom and financial services dropping especially. Real estate sector of Pakistan also suffered with a decline in real estate investments, leading to many problems to arise for real estate developers in the country.

What is the Way Forward?

This past year has been a hard one for everyone, with people losing their loved ones to people struggling to obtain basic resources to fulfill their living needs. However, the problem is still very present and requires attention of everyone. The current state of affairs is prone to take a turn for the worse if the common people do not realize the part they play in the improvement or decline of the crisis.

Everyone is accountable for their actions and have a responsibility to follow the SOPs provided by the government and health officials. Practice social distancing, limit your activity and get vaccinated when eligible, to overcome this crisis for a safer and stable future. That’s all from blog “Challenges Faced by Pakistan’s Economy Due to COVID-19”

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Real Estate’s Role in Improving Pakistan’s Economy

By Skyward,April 21, 2021March 29, 2022

Real Estate’s Role in Improving Pakistan’s Economy: Real estate has always been an important part of Pakistan’s economy but has been neglected as a potential source of economic growth and improvement. However, that is all changing with the renewed focus of the incumbent government towards this industry.

The real estate sector is a diverse and broad area revolving around not only property dealings, but also housing, construction, hoteling, retailing and renting of spaces for business and personal purposes. The real estate industry is a great way to revitalize and strengthen the Pakistani economy because of its ties with other allied industries involved in the construction process. More than 200 industries are involved and intertwined with real estate ranging from provision of cement and raw materials to cables and electric fittings in the properties and buildings. Inspecting the performance of these allied industries, we can observe that construction and housing sectors contribute more than 9 percent to the country’s GDP.

In the past there have been governments who failed to establish proper regulatory framework and work towards improving the real estate sector to enhance its positive impact on the economy and overall GDP. This led to the sector facing obstacles to grow and reach its potential, unable to play a central part in the revival of Pakistan’s economy.

Potential of Real Estate in Pakistan

Digitalization of Real Estate Data

The real estate sector has come under the limelight due to the government realizing and taking action to improve the industry and use it to bring in local and foreign real estate investments. One of the biggest problems faced by investors when they are considering investing in real estate in Pakistan is the lack of transparency and reliability of information, which tends to turn people away. The current government has launched initiatives to digitalize real estate data for accountability and transparency that gives confidence to investors in their investments.

Local and Foreign Investments

Overseas Pakistanis tend to invest in real estate rather than opting to run a business. The sector is set up to experience exponential growth in the coming years with increased investments and remittances being paid.

On the other hand, there are more and more Pakistanis who are showing interest in premium housing and secure living areas. The concept of gated communities with access to amenities and recreational places are becoming increasingly popular. Property developers are focusing their investments and efforts in the best construction services to attract investments and interest of people to purchase properties in these designated areas. Such projects boost the construction and housing efforts for a growing population and encourage buying and selling of land in Pakistan.

Providing Affordable Living

The country has been constantly met with an issue of providing shelter to the poor. The government understands that this problem cannot be resolved without the collaboration of real estate developers and investors with the government body. These major parties of the real estate sector play an important role in making it possible to introduce affordable living for the citizens of Pakistan.

Conclusion

With the proper planning and investments in the industry, real estate can become the backbone of Pakistan’s economy. There is a large potential in the real estate industry with growth in this sector opening up massive employment opportunities for people in all levels. Improved tourism and foreign relationships will lead to an improved performance and contribution of the real estate sector, bringing in more investments and revenue for the government. That’s all in blog “Real Estate’s Role in Improving Pakistan’s Economy”.

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