Investing in the real estate sector of Pakistan has always considered as a striking opportunity, the reason for such appreciation is the attractive returns and fast-changing and upward going trends. This situation is the same for the local as well as international investors. And this is the reason why both local and international real estate investors keep showing their interest in Pakistani property.
It is also noteworthy that real estate investment is something that offers a minimum level of risks. With the changing demographics and the inception of the idea of CPEC, the government of Pakistan is also looking forward to loosening the laws to encourage overseas Pakistani investors. The core purpose of this thought is to provoke them and boost their interest in investing in Pakistan, by facilitating them with the better and easy to deal with opportunities. The government of Pakistan and the private investors has made it easier for the property investors to invest in a property located in the major cities of Pakistan like Karachi, Lahore, and Islamabad.
Read also: History Of Gwadar: Past, Present, And Future
The investors now have reliable, attractive and developed real estate projects that can offer increased returns on investments depending on the volume of investment. Rather than relying on the suggestions of people, better is to take suggestions from the experts or the people who already have experience in investing in the real estate sector of Pakistan. You may get connected with the real estate agents for digging out the available opportunities but going for personal advice from any trusted person is also a must before making your final decision.
The Process of Buying Property in Pakistan:
Just like any other part of the world, investing in Pakistan demands proper documentation, identification and above all, some time. But in every case, it will turn out to be a massive profit for you’re by the end of the day. For overseas investors, the Government of Pakistan has settled some rules that are different than that of the rules and regulations for local real estate investors in Pakistan. At first, you need to register with the Overseas Pakistanis Foundation to be eligible to purchase a property in your name.
Finding the Right Agent:
If you do not have any direct reference or link in your relation, that has the experience to deal with the property buying and selling in Pakistan, you need to look for a person with the ability to deal with the process. Even in the case, you have any direct reference you can give you a piece of good advice, you need to have some professional assistance. For this reason, you need to find the right and authentic agent to help you in the process of finding a piece of land and dealing with the remaining process. Choose an agent after a rigorous screening. He will be responsible for offering your assistance from start till the end of the property buying process in Pakistan. You can do an online search for different agents who can help you in the process.
Documents for Property Buying and Selling In Pakistan:
As mentioned before you need to carry proper documentation to get a property registered in your name. Here is the list of necessary documents that will be demanded during the process;
– A copy of current passport
– Six recent passport size pictures
– A copy of National Identity Card for Overseas Pakistanis
– Copy of entry stamp for residing foreign country
– Copy on exit stamp from Pakistan
– Passport size photographs and list of your family members
All these documents need to be attested and while submitting you need to submit the down payment for the necessary processing for the property.
It’s obvious, taxes are involved but being a Pakistani overseas investor you need to pay 4% of the withholding tax when you are dealing with a property related transaction. Other taxes that you may need to pay include Capital Gain Tax also known as the CGT, the registration fee and the stamp duty charges. If you are taking help of a property agent you will be assisted with all the charges and the possible expenditures you may have to deal with.
Finding the Best Housing Scheme in Pakistan:
You can find a number of online sources that can help you find the best schemes with the latest offers. As we have mentioned before that investment in Pakistan is an always growing trend for the Pakistani expatriates. Sooner or later the property will end up offering you a better return on investment. At the same time, real estate investment comes with a minimum level of risks and the activities are well supported by the government policies.
However, important is to make the right decision and perform detailed market research before buying any property. With the inception of the idea of CPEC, most of the real estate investors are focused on investing in Gwadar City and adjacent property offers. Apart from Gwadar, there are many other areas that can give you a better ROI in later years.
Property Investment in Lahore:
Lahore is one of the fastest developing cities of Pakistan and is facilitating the residents with all the necessary facilities. It is also a business and industrial hub with all the facilities which makes it a major attraction for the people from all over Pakistan. Alongside the Ring Road Lahore, there are many well-grown and growing Housing Societies that are a good idea for investment. At the same time, the sideline of Thokar Niaz Baig is offering a better approach to the city with the help of newly developed Metro Bus route and the upcoming Orange Train route to connect the business sections of the city with that of the adjacent residential areas.
Rawalpindi & Islamabad:
Islamabad remains flooded with the overseas investors and the market seems to have a brighter future in coming years. It is considered as a safe deal for foreign investors and thus comes with tough competition. Just like Lahore the city is expanding and offering new projects like the residential area near the New Islamabad International Airport making it a prime location for real estate investment. Same is the case with the other half of the twin city, Rawalpindi.
Another major industrial hub of Pakistan and directly associated with Gwadar Port City, Karachi is one of the major attraction for the international real estate investors. The sea is also a major attraction for investors. Clifton Karachi has a number of things to attract international investors with a comprehensive budget bracket. At the same time, there is Faizaia housing Scheme that is linked with the Motorway, making it another high-profile investment option. You can find apartments and bungalows in here, depending on your interest and preferences.
Above all, whether it’s Islamabad, Lahore or Karachi, the Defense Housing Society and the Bharia Town have successfully established themselves as the incomparable and strong property brands. For most of international investors, the two places come as the foremost option for investing in real estate. The marketing and the quality of services and life are unmatchable. They have remained consistent in providing the same standards of living, security and all that is necessary to live an uninterrupted and hassle-free life which makes them the first choice for the real estate investors in Pakistan.