Pakistan is a very fast developing country and investing in real estate here is a very smart choice. We will discuss the best cities to buy houses and also introduce you to smartest property portal for real estate business in Pakistan.
Government is tightening noose around non filers so it is very important that you must file your taxes immediately. On a more personal note if you are working abroad , chances are that you file your tax returns regularly, therefore it doesn’t hurt you as you will only pay for any profits you make in Pakistan on your property. A lot of Expats are confused about filing of Tax returns in Pakistan and some fear that our system is not fair. I do not agree though, i believe that while local tax filers may face some issues because of complicated systems involved in tax filing but we must remember that the system is still evolving however for the Expats it is very crystal clear and offers great financial benefits.
After the initial research is done. Now you have precisely limited your options. Its time to go for purchasing. This is the high time to keep all the legal complexities in your consideration and obtain the relevant transfer and sales deeds verified by an experienced lawyer. Always go for the property with all relevant approvals to avoid any loss due to legal issues. Always take note of the location and the current status i.e the stage of development of your plot. These factors effectively influence the timing that how soon the price of your property will rise.
The reason why investment was taking place for short-term gains was because the sector was not regulated or taxed until 2014. The Government maintained a ‘no questions asked’ policy about the source of the capital coming in, and for decades the sector remained the ideal spot to park black money. This led to the creation of a property bubble with artificial price hikes and a widening supply-demand gap in the housing sector. The situation has been further aggravated by the fact that Pakistan is the most urbanised nation in South Asia. If rural to urban migration continues at the existing rate, urban population is expected to reach 95.62 million by 2025, taking the urbanisation level to an unprecedented 53.3%.
Lahore, Karachi, Islamabad, Faisalabad are considered the best cities for real estate business. But there are also a lot of other interesting areas so , to get the bigger complete picture, you should inform yourself on the most complete real estate portal for Pakistan, which is Graana.com.
Welcome to Graana.com – Pakistan’s Smartest Property Portal! For more than a decade our intention has been to revolutionise the real estate industry in Pakistan. The same belief drove the vision of our real estate team, Graana; where quality beats quantity. See more details on House for sale Pakistan.
The goal to transform the way we buy and sell property in Pakistan was an ambitious one, to say the least. Knowing he needed to create an effective ecosystem, Shafiq Akbar reached out to Maj Gen (R) Saad Khattak to take charge of the administration. Farhan Javed took up the critical role of Creative Director, while Arslan Javed joined as Head of Product Development to steer the project forward.