Expats are those nationalists of a country that works day and night for their country as well as for saving a better future for their children and family. A huge amount of Pakistanis are also working in other countries and send a large amount in the form of remittances to their motherland. Studies show that overseas Pakistanis sends almost 11.8 billion in the form of remittance if the first 7 months of 2018 from which most of the amount invested in the real estate sector. Real estate proves to be a beneficial sector for many years and that’s the reason that every ex-pat wants to invest in this sector. So here I am ging you some of the expert advice that will help you to secure your hard-earned money and also earned some handsome profit. So if you are an ex-pat and reading all this then believe me you are in the right place. Some of the major guidelines for ex-pats to invest in Pakistan that they must have to acquire are as follows:
Register As a Tax Filer:
The first thing ex-pat must have to do before investing in the real estate sector in Pakistan is to register as a tax filer. As the government of Pakistan also providing a lot of facilities to filers and has tightened the rules for the nonfilers. As you become a tax filer you pay your taxes to the government regularly and registered your purchasing property in the records of government so there are no chances of frauds and also by becoming a tax filer you pay much less in the form of taxes as compared to nonfiler as a nonfiler pays an almost double amount of taxes while purchasing any property. So don’t late anymore and become a tax filer and save your hard-earned money.
Invest In Selected Societies:
One of the most important rules you must have to follow while investing is to check the society owner’s previous record. If you get some benefit in some small private societies in the past then it does not mean that you always get benefit from the private societies. Investing in private colonies or societies is a matter of great risk. But you don’t need to worry anymore as we bring here some of the verified housing societies such as:
Defence Housing Authority: DHA is a long-running and scandal-free housing scheme till the date.DHA launches its new societies every year just like DHA Multan and DHA Karachi are new ever projects in which you can invest.
Bahria Town: Bahria is the second most safe and valuable property to invest in Pakistan. If you are looking for mid and long term investment then Bahria town would be a great place to invest for ex-pats. It is my personal experience regarding investment in Bahria that there is a variety of options when you look to invest in Bahria as there are many blocks where good opportunities waiting for you. Similarly, Wapda Housing Societies and Gawadar Housing Schemes are those societies where ex-pats invest fearlessly and earn good profit.
Go For Long term and Mid Term Investment:
Foreign Pakistanis are those working hard for their country and it’s not always easy for them to come to Pakistan frequently or after every few months. So a suggestion for you that never invest in real estate using short term. Always invest for a longer period that not only gives you maximum profit but also saves your expanses of traveling. Try to invest by keeping in mind 2-5 years that prove to be a golden period for the ex-pats. So avoid the short term and prefer mid-term and long term investing as property buying and selling is a process of full intention.
Bypass Marketing Ploys:
Pakistan is a country where thousands of ex-pats invest in the real estate sector and unfortunately, thousands of scammers take advantage of the lack of interest of ex-pats as they are away from our country and don’t know gimmickries that are popular in our country. If you are investing in some unknown areas or societies that we mentioned above then it would be a safe zone of investment but if you are a risk-taker and want to earn some big then be careful from these frauds. A lot of marketing geniuses in this sector that just see their benefit. But you don’t have to worry anymore as we bring some of the best suggestions for you to remain in a safe zone. All you have to do is to deal through some third party consultant in your deal that gives you a complete analysis of the property, pros, and cons of the location and also provides you a comparison in different properties. So don’t worry anymore and invest in Pakistan with an open heart.
Avoid Investing In Buildings Or Houses:
Another important and valuable suggestion for you while you are going to invest in the real estate sector and also you are an ex-pat than avoid investing in houses or buildings. Yes, you are reading right, if you are thinking to buy a house and want to give it on rent then it proved to be a very bad decision for you. As you buy a house it will cost you much and also as time passes the building gets old and the price of the construction reduces frequently. Also if you give it on rent then you get only 2-3% in return from this investment. So overall the studies and experiments show clearly that investment in housing and building always proves to be a bad decision. If you are thinking to buy a house for you and stay here when you come to Pakistan with your family as most ex-pats buy houses for their stay then it would be a valuable decision for you as well as for your family. So if you are thinking to invest in property and have some fear of loss then no need to worry anymore and follow the above fascinating ideas that prove beneficial and future securing for you and your family.