- June 5, 2023
- Posted by: Masters
- Category: Blog
Allow us to tell you that the real estate industry of Pakistan plays a key role in the economy. Also, this is a sector that provides multiple job opportunities, along with a lot of wealth. People assume that this sector is the most stable.
However, these days things are not going well due to the economic instability. People are hesitating to invest their money in this sector. Here we are not just talking about local investors but even Overseas Pakistanis.
And it is not wrong to say that Overseas Pakistanis are facing more problems than ever. So, in this specific blog not only we will discuss Overseas Pakistani property problems but we will also learn about the tips that will allow Overseas investors to buy or sell a property without any problem.
Sounds good? If so, give it a read till the end.
Table of Contents
Top Problems Faced by Overseas Pakistani Investors
Mainly after COVID-19, the real estate industry is struggling all around the world. Even the developed countries are finding it hard to get over the impact of it, so imagine the situation of the under-developed countries.
Still, countries like Pakistan are taking necessary steps to make things better. Recently, a known developer in Pakistan launched smart city housing projects in Islamabad and Lahore. The projects gained equal popularity among Overseas Pakistanis.
However, they struggle to invest in these projects because:
Fast Changing Policies
Due to economic changes, industrial, political, and even economic issues are increasing. This is something that affects the real estate industry quite a lot. The policies change quite quickly and this becomes the main reason for the lack of confidence among investors. They are unable to trust, and when they don’t trust, they don’t invest.
This instability affects Overseas investors the most. Because they are away from the country, they fail to keep up with the changes. According to a survey, Overseas Pakistanis are very much interested in real estate in Pakistan. However, fast-changing policies are becoming a huge hindrance.
Another reason why the real estate industry is facing a downfall is due to high taxes, mainly on investment. Also, the ban on FBR restrictions and other things is discouraging a huge number of investors.
The strict regulations and high taxes are making it hard for Overseas investors to make an investment in Pakistan. It is because, at the end of the day, it becomes hard for them to make good profits on their investment. And obviously, no one likes to invest their money in places where the risks of losing money are too high. This is a negative sign and it shouldn’t be ignored at any cost.
The other major concern that Overseas Pakistanis have is the safety of their investment. What if the project is illegal or the development of the project got delayed due to some reason? Should they trust the developers? What if they end up getting in touch with someone who is not reliable?
Such uncertainty takes them to one decision and that is not to invest in real estate instead of taking risks.
Want to Buy Property in Pakistan? Here Are the Tips for Overseas Pakistanis
Here are the tips that every Overseas Pakistani should follow:
Ensure the Project Is Safe to Invest
If you live abroad, such as in Canada, The UK, or The USA, and are planning to invest in real estate in Pakistan, first ensure the project you are planning to invest in is safe. Now there are ways to check whether the real estate project is approved and legal.
All you need to check is which municipal authorities the project falls in. For example, CDA, KDA, LDA, PAF, or DHA. Now if the following project you are interested in is approved by these authorities, you are making a safe investment.
However, if the project is not approved or the management is saying it is in the process, take it as a red flag. As there is a possibility it will not get approval anytime soon or forever and all your investment goes to waste.
Check the History of Builders
Moving on, if the project is approved, the second step you must do is, check the developers or you can say builders of the project. This is another thing that can tell a lot about the project.
A builder with a good reputation means the project will be developed on time and everything else will be delivered as promised too.
You can even check the history of the builders on your own through the Internet. Research the projects they have done in the past and what the people have to say about them. This little information will surely help you in making the right decision. And you will keep yourself safe from making a wrong investment.
Stay Safe From Scammers
Now there is another that causes a lot of trouble for the Overseas investors and that is scammers. They sometimes fail to hire the right real estate company to process everything.
So, allow us to tell you that it is always better to go with big names or those who are strategic partners with real estate projects. For example, if you are planning to invest in Smart City Lahore, prefer contacting The Masters Real Estate & Builders. We have a team of experts who will guide you the best from the beginning till the end.
So, now that you have learned about the problems and even the tips that can save you from the problems. It is time to decide in which city and in which housing project you want to invest your money.
Once decided, simply contact Themrl.com as we deal in multiple projects. We will not only provide you with timely updates but also bring the best solutions to the problems if there are any.\