A World Bank report revealed that Pakistan is facing an unprecedented shortage of over nine million housing units. It also states that housing finance to the GDP ratio in the country is below one percent compared with seven percent in India and 50-70 percent in the developed world. Factors responsible for this shortage include, but are not limited to, population growth, year-on-year short supply and depletion of existing stocks.
This shortage has forced more than half of the country’s urban population to live in slums. The housing crisis needs serious attention of the government. Many private housing schemes offer houses at exorbitant prices. The authorities need to provide affordable housing options to citizens.