Investment in Pakistan real estate sector is always considered a striking investment opportunity due to its upward trend and attractive returns, for both local and overseas investors. Prices and returns are increasing along with investors’ interest in Pakistan real estate sector. It is not wrong to say that investment in real estate poses minimal risk. Moreover, the government is also planning to come up with softer laws just to encourage overseas Pakistanis to invest back in their homeland and help boost the economy.
Where to Invest?
When you have an investment opportunity along with handsome amount, the Pakistani government and private developers has made it easier to buy properties in major cities instead of dumping it in a remote location. Various attractive, developed and reliable real estate projects are available across major cities of Pakistan such as Lahore, Karachi and Islamabad to enjoy increasing returns on investment – depending upon your investment volume.
Find the Right Agent
Instead of completely relying on online results and blindly investing in the first option that appears after your search results, you must take suggestions from experts, friends and family residing in Pakistan for real and reliable options. Otherwise, you can also get in touch with registered agents on reliable property portals such as HomesPakistan where they get approval after complete screening, who will guide you from start till the transaction takes place.
The Purchase Process for Overseas Pakistanis
Investing in Pakistan real estate sector requires some identification, documentation along with time. For overseas Pakistanis, the government has established a separate set of rules due to the shortage of online data. You need to be registered at Overseas Pakistanis Foundation (OPF) to be eligible to purchase a property in your homeland.
Requirements to Purchase Property in Pakistan
- Copy of your current passport
- Six passport size photographs
- Copy of NICOP (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
All these documents must be attested and you need to arrange down payment before proceeding for any property option.
Moreover, overseas Pakistanis need to pay four percent withholding tax on any property related transaction. Other taxes include Capital Gain Tax (CGT), Stamp Duty and Registration Fee.