State Bank of Pakistan (SBP) has signed a memorandum of understanding (MoU) with Zameen.com according to which the latter will provide data on the prices and rental costs of residential and commercial properties in the country’s metropolitan areas.
This data will subsequently be used by SBP to analyze house prices, develop related indices, and use the information in its publications, working papers, and reports. The aggregate house price and rental indices will also be available on SBP’s data portal, Easydata, for the last four years.
On the signing of this MoU, Deputy Governor (Policy) Dr. Murtaza Syed, expressed his pleasure and opined that the real estate sector was under-researched in Pakistan due to a number of factors including paucity of available data.
He added that in the absence of dependable information on price trends in the real sector, understanding households’ asset allocation decisions became difficult. He hoped that the MoU between the two entities would greatly help to fill these gaps.
Zameen CEO Zeeshan Ali Khan stated that he was proud to have entered into an agreement with the SBP to provide invaluable data to the bank, in order to help it make informed decisions and draft effective policies.
He further said that this engagement with Central Bank was a representation of the great work done by Zameen.com to digitize and transform the country’s real estate industry, and of the company’s commitment to providing the public with the latest and most accurate depiction of the local property sector.
