Do you want to invest in real estate but lack an investment guide for overseas Pakistanis? Don’t worry! Since we have a thorough guide on the real estate market, current real estate trends, and anticipated returns for potential investors, you can make an informed decision. When they want to invest in the real estate sector on various fronts, Pakistanis living abroad face numerous difficulties and barriers. This is why those who are residing abroad fall prey to phony projects and wind up losing money.
For a variety of reasons, overseas Pakistanis and foreigners have increased their real estate investments and developments. One of the causes is the Pakistani government’s pro-business policies, which include tax amnesty and financial freedom.
INVESTMENT GUIDE FOR OVERSEAS PAKISTANIS
So let’s get started with our investment guide for overseas Pakistanis who want to contribute to Pakistan’s economy while earning bigger returns. The government, as well as Pakistanis living abroad, thereby benefit from the situation.
REAL ESTATE MARKET IN PAKISTAN
As a result of recent improvements in the industry, Pakistan’s real estate market is booming. The Pakistani population’s rapid growth is the key cause. According to data collected by world Meter in March 2022, Pakistan currently has 228 million people living in it.
Moreover, young people, who make up 65% of the population, require new homes. By building new homes, the 10 million-home shortfall that exists now may be filled. Furthermore, if the government does not take action, the experts project that this shortfall will deteriorate and increase to as many as 13 million homes by 2025.
We may thus conclude that there are unexplored chances in the real estate sector for investors to earn larger profits. In addition, many individuals go to big cities in order to find work and escape poverty.
By supplying the essentials in metropolitan areas, only established real estate developments could house these individuals. There is still a lack of housing in major cities like Karachi, Lahore, Islamabad, Faisalabad, etc. Rudn enclave Rawalpindi is one of the top real estate projects in Rawalpindi and Islamabad.
Therefore, if Pakistanis living abroad invest in the real estate industry today, they may expect to see big and spectacular returns in the future as the demand for homes is anticipated to increase in the coming years.
OVERSEAS PAKISTANIS FOUNDATION
The Overseas Pakistanis Foundation was established in 1979 with the goal of making life easier for Pakistanis living abroad. The organization’s primary concern is the well-being of Pakistan’s population. Additionally, this government agency strives to offer hassle-free services to those residing overseas who want assistance.
At this time, OPF offers the following services to Pakistanis abroad:
- Airport Facilitation
- Ambulance Service
- Foreign Exchange Remittance Card (FERC)
- Financial Assistance
Pakistani-German Facilitation and Reintegration Centre (PGFRC)
OPF assists investors who intend to participate in the real estate industry in order to protect them from any financial obstacles and fraudulent housing schemes in Pakistan. Therefore, foreign Pakistanis can invest in secure real estate developments if they use the OPF platform to buy property.
For only Rs. 2000, you may join the OPF. However, so long as you live overseas, you can continue to be an OPF member.
Additionally, the investors have the option of purchasing OPF residential flats. You may purchase opulent flats in the center of Islamabad for 10% down and three years of quarterly payments.
TAXES AND REAL ESTATE INVESTMENT
Foreign investors can create an account in Pakistan to lessen the financial barriers, and the Roshan Digital Account is a great idea. In addition, investors are no longer obliged to file returns before making a real estate investment.
To stimulate real estate investment in Pakistan, the real estate industry has been modernized with a number of helpful measures. As a result, investors can make investments in this industry without having to reveal their assets or whiten their money. To encourage investors, the government continues to offer loans and other forms of financial support to builders and homebuyers.
So it is a good moment for investors to start investing in real estate and profit from better returns. They can gain from their investments years from now when the market is at its highest if they invest now.
Here are the measures that Pakistanis living abroad must take before making investments. As a result, if you are still uncertain about your investment and worry about getting duped by con artists. Here is the top investment advice for Pakistanis living abroad.
- Establish your investing goals.
- Review your available investing alternatives.
- Do extensive research or work with a reputable realtor.
- Always pick housing cooperatives or real estate developments that have been approved by the city’s development authority. Capital Development Authority, Rawalpindi Development Authority, Karachi Development Authority, and Lahore Development Authority are a few examples.
- Obtain the registration and allotment letter from the necessary developers in order to claim ownership of the property.
- Pay off any obligations using lawful means.
- Keep a record of all conversations and transactions.
In conclusion, buying real estate in Pakistan is no longer a difficult task. To entice investment from outside, the government has offered a variety of incentives and enticing tax amnesties. Since the housing problem is getting worse owing to population pressure, it is crucial for real estate developers to invest in housing developments. Rudn enclave Rawalpindi can be an attractive investment opportunity for overseas Pakistanis. Given the superior amenities and facilities the community offers, Rudn Enclave’s rates are quite reasonable. Due to society’s early stages of development, plot prices are quite reasonable.
For Pakistanis living abroad, this article offered guidance on real estate investing. Additionally, imagine you invest in real estate using the Overseas Pakistanis Foundation’s website (OPF). In that situation, you are more likely to follow the legal and financial channels and engage in secure real estate projects.
On the other hand, consumers may do their own independent research into real estate projects or enlist the help of a reputable and experienced agent to find the greatest properties that fit their needs and budget.
In that situation, they must make investments in safe and legitimate projects that have received the appropriate authorities’ NOC. If you follow our comprehensive investment guide for overseas Pakistanis, you’ll make the right investment at the right moment in the right enterprise.