What Are The Investment Opportunities For Pakistanis Living Abroad
Pakistan real estate has evolved over the years. One can say it is at the peak. Of course, the challenges remain but the overall situation is very lucrative for investors. Pakistan government deserves full credit for taking initiatives that have tremendously improved the law and order situation in the country.
The federal budget, law amendments, and real estate investment fund have triggered the growth in real estate business in Pakistan. According to stats, people have withdrawn money from banks to buy property in Pakistan after the government has introduced 0.3 to 0.6% withholding tax on filers and non-filers on tax returns.
In addition to all these factors, improvement in safety conditions of different cities had a positive influence and attracted Pakistanis and non-resident Pakistanis to invest in real estate for guaranteed ROI.
The issues like hyperinflation, balance of payment, fiscal policy, and energy crisis still exist but the real estate market keeps performing well despite these unfavourable elements.
Karachi, Lahore, and Islamabad remain the heart and soul of real estate property in Pakistan. In fact, many renowned residential projects like DHA, Bahria Town, Lake City and Gulberg Greens have been established in these cities. These signature projects include schools, hospitals, parks, parking lots, mosques, gym etc. The security is pretty tight and they are considered the safest zone to live and to invest.
Real Estate Investment for Overseas Pakistanis
We will narrow down the best cities and their best localities to find the most profitable locations for investment. Here we go:
Lahore is the second largest city in Pakistan with an abundance of historical places. It is not only a preferred place to live by many Pakistanis but also provides plenty of investment opportunities.
Some of the projects where you can invest in Lahore are SA Gardens Housing Scheme, Saiban Homes, City Gardens Housing Society by PCHS, Tamir Homes, Al-Hayat Center, Beaconhouse Estate, and Gulistan-e-SirSyed Cooperative Housing Society.
Karachi is the king of Pakistan. The city alone is responsible for generating more than half of GDP of the country. The residential and commercial development in Karachi is spreading like wildfire. There exist many problems like water shortage, sewage issues, and energy crisis but the city continues to flourish.
We think Clifton area; Bahria Town and DHA are the top localities to invest in property. After the establishment of Bahria Town on Super Highway, many neighbouring projects are also doing well, although the location is far away from downtown Karachi.
Islamabad is the safest bet for foreign investors. The city is the living ground for expats. The security conditions are the best in Islamabad as compared to other cities in Pakistan. Being the capital of the country; Islamabad enjoys preferential treatment.
Bahria Town, DHA, Gulberg Islamabad, and Bani Gala are some of the prime locations in Islamabad. We won’t be wrong to say that the entire city is worth investing.
Gwadar is the newborn in this list. The last couple of decades have changed the city completely. Deep sea port and CPEC are the heartbeats of Gwadar. The real estate scene is booming right now. Investors are literally throwing money at any given opportunity.
A cautious approach is required in Gwadar because fraudulent are actively scamming buyers. However, the government has intervened and trying to make the situation as transparent as possible to ensure the continuity of foreign investment.
Buy Property in Pakistan: How To Get Started
The real challenge for overseas Pakistanis is how to buy the property in Pakistan especially when they have moved permanently with no reliable source living in the country. Of course, the situation makes many willing parties a bit hesitant about investing in real estate in Pakistan. However, with the advancement in technology, one can easily find out the real estate trends in different cities and locations of Pakistan.
If you are a non-resident Pakistani and planning to invest here, the best starting point will be to get yourself updated with the current market situation. Of course, you don’t have to do a Ph.D.on the real estate of Pakistan but slight awareness is necessary. There are many authentic sources that can not only update you on the current real estate happenings but have multiple property listings for sales like Zameen, Lamudi, and Associates Marketing. These websites can be the property consultant for overseas Pakistanis.
Real Estate Business In Pakistan Is Thriving
It is true that real estate business in Pakistan is thriving right now and it would be foolish to miss out the chance to get solid ROI. The real estate forecast for coming years shows positive trends in Pakistan. The country is growing slowly but steadily. It will be a waste of an opportunity to delay the investment in real estate any further.