The federal government has relaxed eligibility requirements under its housing finance scheme to make homeownership more accessible and expand participation among prospective buyers.
Under the revised framework, spouses and blood relatives will now be allowed to apply jointly for housing finance by combining their incomes to purchase a residential property.
The government has also simplified documentation and guarantee requirements for employees of public-sector organizations, including government and semi-government departments, enabling them to access financing more easily.
The decisions were made during a meeting chaired by relevant ministers and stakeholders to review the progress of the housing finance scheme launched under the Prime Minister’s initiative. The meeting focused on removing procedural hurdles, addressing implementation challenges, and improving access for end-users.
Speaking after the meeting, Association of Builders and Developers (ABAD) Chairman Hassan Bakhshi said the government aims to facilitate the construction of five million housing units over the next four years. However, he noted that developers continue to face challenges, including limited land availability and high construction costs.
Bakhshi urged the government to release land from its existing land bank for housing projects and introduce dedicated financing facilities for builders and developers to accelerate housing development nationwide.
He also called for tax reforms, digitization of land records, and measures to stabilize construction material prices. According to him, allowing imports of construction materials and improving market monitoring could help control costs.
The government’s housing finance initiative, launched last year under the “Apna Ghar” program, provides subsidized financing for the purchase of residential units through affordable installments. Officials expect the scheme to stimulate construction activity, support related industries, and create employment opportunities.
Separately, Ibrahim Amin, Chairman of TriStar International, said geopolitical tensions in the Middle East could encourage both local and overseas Pakistanis to invest in Pakistan’s real estate sector.
He urged authorities to accelerate the digitization of land records, establish a transparent and computerized property transfer system, and strengthen safeguards against land grabbing and property fraud.
Amin also recommended additional incentives for overseas Pakistanis, including simplified tax procedures, reduced withholding taxes, and faster property registration processes to attract remittances into the formal real estate sector.
He welcomed the government’s subsidized housing finance reforms, saying they would help revive construction activity and generate jobs across multiple allied industries.