News / Articles

Check out market updates

Real Estate Investing Tips for Overseas Pakistanis

Real Estate Investing Tips for Overseas Pakistanis

Expatriates are the backbone of Pakistani economy. Every year foreign Pakistanis send approximately twenty billion dollars in remittances. Large portion of this money is parked in the real estate sector. Many overseas Pakistanis have no idea about buy a property in Pakistan. This blog is a step by step guide with real estate investing tips for overseas Pakistanis.

Consider your finances

For investing in real estate you have to assess your budget and basic requirements. Budget has huge impact as top properties are expensive due to the high demand. Secondly if you are buying property to build home in the near future, then also consider the size of plot. As a rule of thumb large size plots are expensive as compared to the small size plots.

Consider the location

Location is perhaps the most important thing to consider while investing in real estate as it always increases the profits. Good location properties have large pool of buyers as people want to live in top location homes. For selecting the prime location, consider the properties that are situated near to city centers, shopping malls, schools, hospitals and bus stations.

Find and check the projects

You will find many ongoing real estate projects in all major cities of Pakistan. Most projects offer properties on installments. Thoroughly check the projects and select the most suitable property as per your circumstances. Just keep in mind that property scams are very common in Pakistan. So always check the NOC of the project before buying or investing.

Documents required by overseas Pakistanis to buy property in Pakistan

Copy of current passport

Six passport size photographs

Copy of National Identity Card for Overseas Pakistanis

Copy of entry stamp of the residing foreign country

Copy of exit stamp from Pakistan

List and passport size photographs of your immediate family members

From 1 July 2018 all Foreign Pakistanis can fill single page E-Return Form issued by FBR to be filer. This will make the expatriates filers and they will be able to buy property worth 5 Million or even more.

Recommended:
6 Property Investment Tips for Better returns

14 Comments

  1. muhammad azeem uddin

    on   said 

    dear sir

    you are saying that property prices dip after way July but we are seeing declining of PKR VS USD as well as oil prices increased.
    in this situation all imported goods price will increase like tiles cement and iron and wages . Then how could home price will come down ??

    similarly it has also sound that USD will crossed 130 very soon. Govt have no option go to IMF and this is the requirement of IMF ghar the caretaker gov’t making way for elected gov’t.

    in the whole scinero would you still hope that property prices come down?? only the reason non filer can not buy more than 5 million????

    Reply
    • Muhammad Azeem Uddin
      Inflation is the indirect tax
      People who bought property recently will see the 5-10% price decline because of decline in currency value.
      So prices are falling one way or other.
      PLUS
      5 Million restrictions will break the neck of abnormally high property prices.
      Wait for few weeks and things will be much clearer.

      Reply
      • Malik

        on   said 

        Care taker Govt. is planning to extend amnesty till oct 30, so no need to create extra panic. After new Govt formation there are 99% chances this law will b thrown away. chances are PTI will lead the Govt and there will be clear taxes but no more confusion in the market, dollar will be controlled as mafias will be out. Fraud schemes will be finished as NAB and Court are already after them. Genuine schemes like DHA will benefit a lot as those investors will move there, secondly most of overseas are sending there family back home and planning to settle there and their main target market is DHA. so invest in genuine schemes there is no worry. Market is slow but u will see the difference after Oct. 2018

        Reply
    • Malk Amjad

      on   said 

      Dear Muhammad
      I am sorry to say that information and input given by the blogger is illogical as usual. He is always saying market will crash 40-50%… letsee the logic
      1- as per blogger bigger size plots will come down 30% from the current values, means if today phase 9 plot price for good plot is 1-105 lacs and as per his info. if it comes down 30 % its new value w be around 70 lacs and 10 marla which is currently around 70-75 lacs will be available between 50-50 lacs. Now smaller plots of 5 marls which are currently around 35-40 will get huge trade as mostly business will be going on in this range as these are 5 million below, so as we all know prices are linked with supply and demand and when demand will increase these plots prices will shoot to 45-50 within limited time.
      Now is it logical that 5 marla plot is available at 50 and 10 marla also around 50-55 and kanal around 70. so why people will not buy bigger plots by paying extra 3 lac tax. so blogger has completely ignored the basic equation.
      2- As you mentioned above that rupee is being devalued and all related costs not only on imported material you mentioned above it will increase the material prices within the country i.e if one has to transport any material linked with construction will cost him more so construction overall prices will increase and when these increase people especially overseas they will not keep their plots for next 10 yrs unconstructed and mostly overseas prefer bigger houses of 10 marla and 1 kanal. so again trade will start. secondly due to evaluation of rupee whatever was costing me in 100 thousands now it will cost me 70 thousands so why one will not invest.
      3- we give example of Dubai property, please be informed that Dubai property was 90% loan based and when things changed people they left the property, vehicles and companies as 90% percent investors are overseas. since the collapse of arab regimes in surroundings people are hesitant to invest in Dubai now bkz there defence is also weak so investors are conscious. Now they have started the new taxes also and people are leaving and going back to their countries. Another confusion of 99 yrs nationality rule for investors has also crashed that’s why Dubai properties have come down.
      In Pakistan market is not loan based and local population is increasing day by day which is not the case in Dubai. so it can not be compared.
      4- if new Govt ( most probably PTI) supports or continues this amnesty and all black money comes back as white then their whole case against Nawaz and company becomes illogical as they all will show it white money. Due to this their whole efforts and case will blast. So first thing new govt will do will throw this schemes in dustbin. This is the reason why no one as shown much interest in this they now its trap.
      Mostly bigger plots are owned by overseas and they can hold it for few years till rise of property comes back. So conclusion is there will be no major crash in genuine schemes, only bigger plots will remain stagnant for 2-3 yrs on current prices and new Govt will impose clear taxes for all transactions and market will understand and adjust.

      Reply
  2. Farooq Lari

    on   said 

    Dear Malik sb.
    I wish the best for you. I have been keenly following Lake City Lahore prices for the past 6 months and all I see is rise and now a bit of stability in its price. However, these prices are very high for a salaried person like me to make a move to buy. Is it OK to think that the prices will now increase more in Q3, eid season etc. and buyers like me will only able to watch it from the outside 🙁

    M1
    10 Marla Plot 72 to 78
    12 Marla Plot 84 to 90
    14 Marla Plot 90 to 98
    1 Kanal Plot 125 to 150
    2 Kanal Plot 350 to 400

    M2
    1 Kanal Plot 95 to 130

    M2-A
    10 Marla Plot 75 to 85

    M3
    1 Kanal Plot 120 to 140

    M3-A
    12 Marla Plot 82 to 90
    14 Marla Plot 90 to 95
    1 Kanal Plot 125 to 135

    M3 Extension
    10 Marla Plot 68 to 74

    M5
    10 Marla Plot 65 to 75

    M 7b
    5 Marla Plot 38 to 45

    M 7a
    7 Marla Plot 52 to 65

    M 8
    5 Marla Plot 28 to 35
    7 Marla Plot 38 to 44

    Reply
    • Farooq Lari
      Price are nearly the same they were in 2016 at the launch of new projects
      PLOTS LAUNCHED IN 2016
      5 MARLA = 30 LAC
      7 MARLA = 41.9 LAC
      10 MARLA = 65 LAC
      1 KANAL = 102.5 LAC
      But according to the market situation still prices are more than the purchasing power of filers
      Wait till 1 July 2018 when non filers can’t buy property worth 5 million or more.
      The same plot you will be able to buy at 30% discount by BAKRA EID or end of August.

      Reply
  3. Ahmad

    on   said 

    How this Bahria Town Karachi issue will be resolved. Will it be resolved or whole BTK will be confiscated? Any suggestion.

    Reply
    • Ahmad
      Bahria Town
      Paragon City
      PLUS
      Many thousand housing schemes/developments in PAKISTAN are on the radar of NAB/FBR.
      These cases will be decided by the NAB.
      But we should raise our voice that people who bought properties in these societies with white money and honestly paid the taxes should be protected.

      Reply
  4. Nazish Fatima

    on   said 

    Sir,
    Famous economist Dr shahid Hasan siddiui on TV told that the mafia send money (commission. , bribery, etc) to abroad to their relative by hawala and their relative send remittance this money again . In this case the black money are all white and their is no need to pay tax .

    On other side the honestctax payer are paying 35% of their income to governments.

    Sir is it true ? What do you think after 1july this kind of practice will eliminate from.the system?

    Reply
  5. muhammad azeem uddin

    on   said 

    dear sir

    kindly write an article : 5th GENERATION HYBRID WAR AND PAKUSTAN PROPERTY PRICES.

    it has been discussed nowdays in international and local media that the enemy of Pakistan has imposing this kind of war. if so then how and what causes behind in the year 2016/17 property and stock market boom.

    is it a conspirus from the enemy of Pakistan first boom the market and downfall the bottom.???

    Reply
    • Muhammad Azeem Uddin
      By grace of ALLAH Pakistan has won the 5th generation war.
      The concept of urban warfare is to promote injustice and mafia.
      SC, NAB, FBR & our Government has destroyed the nexus of mafia.
      HOW?
      By making the laws that block the influx of black money into property sector.
      HIGH PROPERTY PRICES ARE VERY BAD FOR THE NATIONAL ECONOMY. LIKE KILLERS. AS THEY DESTROY OTHER SECTORS.
      Now every buyer has to answer a single question. SOURCE OF INCOME
      From 1 July no one can buy property with black money.
      Already property prices are more than 20% down from 1 January 2018.
      In DHA Lahore property prices are 30-35% down due to ban on non filer.
      NOW ON WARD
      1- Properties are not for whitening of black money but for living
      2- This will decrease rich poor gap
      3- Justice will survive as honest tax payers will able to buy property
      4- Black economy will decrease, whereas real economy will rise
      5- Money will be invested in job creating sectors that will flourish the economy and unemployment will decrease

      Reply
  6. Madeeha Ali

    on   said 

    Great news for foreign Pakistanis.
    Sir
    How much decline in prices.
    When to buy property
    any ideal time?

    Reply
    • Madeeha Ali
      Yes foreign Pakistanis can easily buy property from 1 July 2018.
      Prices are 20-25% down from 1 July 2018
      Ideally the last quarter of 2018 will be good to buy property as prices are falling and will crash from 1 July when according to new laws non filers can’t buy property worth more than 5 million PKR.

      Reply

Leave a Reply

Your email address will not be published. Required fields are marked *