KARACHI’s real estate market may be booming, but this growth has come at the expense of millions of middle-income families. Despite the increasing number of luxury housing projects, the city is grappling with a severe housing shortage.

According to the Karachi Metropolitan Corporation (KMC), over 60 per cent of the city’s population lives in unleased settlements, where access to basic services, like water, sanitation and electricity, remains limited. As the population grows by over 400,000 people annually, this crisis is becoming even more acute.

To tackle this, the government must create incentives for developers to build affordable housing. Measures like tax breaks for builders who commit to low-cost housing, subsidies for construction materials, and relaxation of zoning laws could help address the matter.

Additionally, these new developments must prioritise sustainability, with green practices and energy-efficient designs, to reduce long-term costs for the residents.

Without urgent action, the gap between luxury housing and the rest of Karachi’s population will only continue to widen. It is essential that affordable housing be made a priority to ensure a fairer, more inclusive future for Karachi’s residents.

Syeda Ramsha Abbas Rizvi
Karachi

Published in Dawn, December 30th, 2024