That may not seem true but believe us its true. Overseas Pakistanis can now buy any Pakistani property at 50% off. Not many property portals and agencies would tell you this but if you want to avail this option, the time to act is now.
Since 2016, the realty market has been in a state of constant flux due to the property taxes that were introduced recently. These taxes effectively reduced the cost of property as many people wanted to sell the land. Added to this, the increase in the price of the dollar has further reduced the price of property for overseas Pakistanis.
Over the course of the last two years, property prices have depreciated 20-25% due to the taxes. The value of the rupee has also depreciated against the dollar another 20-25% which brings the total savings on property up to 40-50% for overseas Pakistanis.
The recent hike of the dollar to 128 PKR is testament to the fact that this is the ideal time for investment for overseas Pakistanis considering that this is also the election year and that the property prices will rise post-election.
Where can I buy
Following are list of the most suitable investment options that you can opt for and which are guaranteed to increase in price after the elections.
As always, DHA happens to be the most renowned, reliable and respected of the property options. You can make an investment in any phase of DHA for small amounts considering the general economic scenario.
Commercial Plots DHA
This is one of the best times to invest in a high return commercial area such as DHA. These would give a high rental yield of around 7-8% per annum.
Another option for the people is LDA City. This is a rapidly developing area with a lot of local investors taking interest in this area. The file for a 1 Kanal plot start from PKR 35 Lacs, for a 10 Marla plot it begins from PKR 25 Lacs and for a 5 Marla plot, the file price starts at PKR 15 Lacs.
New mixed use development projects guarantee annual rental yield of 7-8% making it a highly lucrative option for overseas Pakistanis looking to jumpstart a business or gain rental income on a yearly basis.
The process is fairly simple and can be completed in a matter of days. It is the right time to make the investment. With the dollar price increase, the taxes on the properties reducing the price, this is the ideal time for overseas Pakistanis to put their money to work.
All you need is an investment of a few thousand dollars and you can start earning decent annual income based on your area of investment.
These are some of the areas where overseas Pakistanis can invest and earn despite the overall property market being extremely slow. Talk to us in the comments section below if you are interested in making a purchase or if you have any other areas you want us to highlight.