Oligopoly echoes of real estate

The real estate sector in Pakistan cannot be fully considered a market due to the absence of a centralised platform that facilitates direct interaction between buyers and sellers to discover appropriate deals for their properties. Theoretically, a market is delineated by its unique attributes, comprising a platform where buyers and sellers convene to execute transactions. The availability of extensive market dynamics and pricing information accessible to all participants should complement this platform. Similarly, the efficiency of a market is gauged by the flow of information, leading to its classification into weak, semi-strong, and strong forms of an efficient market, each differentiated by the extent and nature of information dissemination. Although private platforms such as Zameen, Gharana, and others exist, they typically offer property valuations in an estimated fashion rather than as the result of demand and supply.