The elusive dream of property ownership

Living the retirement plan as a real-estate owner seems unattainable in today’s Pakistan. And not buying coffee on the way to work won’t make a difference. Having worked (and saved) from an early age, commencing with an esteemed magazine during adolescence, followed by part-time employment while pursuing higher education, and working full-time with a lucrative take-home, it is a small wonder that one can manage one’s own bills. However, I am currently three years older than my parents were when they purchased their house in 1995. Earning an average monthly income as a writer, which is approximately doubly higher than the median monthly most professionals make, purchasing property now appears more unachievable than it was only five years before. This translates into the fact that Pakistan’s cost-of-living crisis has a greater impact on younger generations now entering the workforce. This cost-of-living crisis has persisted more strongly since 2022, characterised by a decline in disposable incomes due to increased national and global inflation, the ongoing effects of the Covid-19 pandemic, the repercussions of political uncertainty, and the conflict in Ukraine.