THE body of builders and developers is actively seeking amnesty and government supporttoboost the realestate sector.

However, such concessions primarily benefit investors and the business community, with little to no advantage for the genuine buyers.

Instead of making housing more affordable, such incentives have always fuelled market speculation. As a result, real estate agents, in collusion with investors, drive up property prices significantly within no time. This forces all the genuine buyers to purchase properties at inflated prices.

Notably, construction costs have remained stagnant for the last two years.

However, once the government grants relief, these costs will start rising again, further diminishing any potential benefits to the end users.

The government should not abolish property taxes.Instead,itshould take effective measures to curb speculation in the realestate sector.

Furthermore, all property transactions should be mandated through banks. Indeed, once this trend gains traction, it will ensure transparency and accountability.

Muhammad Wasif` Karachi