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Foreign living Pakistanis are one of the main sources of foreign direct investment in Pakistan. According to stats, expats have sent more than 11.8 Billion USD as remittance in Pakistan in the first 7 months of this year. And the significant share of this investment is being used to purchase property in Pakistan. Despite the fact that people live abroad in search of a better lifestyle for themselves or their dependents, but at the end of the day, they will have to invest in Pakistan to secure a home for their children.
Our country has no pre-defined policies at the national level to guide these expats about safe and secure real estate investment. As a result, the public sector has identified this issue and came up with their solution. Now we see a lot of opportunities available for expats for investment from commercial, residential to agriculture and raw land.
The government hasn’t regulated the public real estate sector so far. Therefore many projects fail each year, a lot of fraudulent deals takes place, fake dealings occur to rip off people. The weak law and order situation in Pakistan is also one the major issues in real estate sector.
Expats’ investment in the country is not only beneficial for them, but it also assists people living here from different aspects. There are many expats who want to invest in the real estate sector but frequent visits to Pakistan is not possible for them. Moreover, everyone doesn’t have the strong grip on local real estate developments. If you’re an expat and wishes to invest in Pakistan’s real estate sector, this guide will give you the practical insight and effective guidelines to ensure that your investment would remain safe and secure, as well as profitable.
- All that glitters is not gold
If you’re an expat looking to invest in real estate, do not get trapped by attractive slogans and marketing campaigns. There is a huge risk of fraudulent deals in the real estate market, particularly in smaller societies. These societies are unregulated. Moreover, for an expat investor, it’s hard to track the activities and updates of smaller societies from abroad. If your one investment in any society has given you the good return in past, it doesn’t necessarily mean that the same would happen again. So we recommend you to opt for tried and tested projects such as Bahria, DHA, Maymar etc. However, the risk factor in these societies cannot be ruled out completely, but its comparatively easier to track their progress. These societies are regulated, therefore there is a minimum chance of any loophole that allows any fraudulent activity. - Register yourself as a tax filer
As the newly elected government is tightening the taxations law, it’s highly recommended to register yourself as a tax filer as soon as possible. - Avoid Short-term investments
Frequent travel to Pakistan is not that easy for the one who is working abroad. You should go for the mid-term or long-term investments plans. This way, you will not have to bear traveling expenses on each deal. Unless you have a large number of assets, invest in properties that give you returns in 2 to 5 years.