REAL ESTATE INVESTMENT GUIDE FOR OVERSEAS PAKISTANIS

This is the ideal time to enter the blooming real estate market of Pakistan for the overseas Pakistanis. The increasing trend of real estate investment by overseas Pakistanis is mainly driven by the ample funding of the Government in this regard. Also, in this digital era, every aspect of our lives is being displayed on social media. So, the public is now aware of everything going around them.

This has given a great opportunity to the overseas Pakistanis to search everything about the properties back in their country where they’re planning to invest. However, a decision this important still requires thorough research and analysis, and a strong insight into how things work to prevent any fraud.

Let’s discuss how you can best invest your money in Pakistan real estate:

  • Take the Safety of the Project into Account

How can you ensure that the project you’re investing in is safe and secure? Here’s a general rule: The properties supervised by regulated administration bodies or municipal authorities are considered as safe investment opportunities. Capital Development Authority (CDA), Rawalpindi Development Authority (RDA) and Lahore Development Authority (LDA) are a few examples of such authorities. Make sure to check for approval status by the regulatory authorities before investing in real estate.

  • Check the Past Experience of the Real Estate Agent or Developer

A renowned agent or developer who has multiple thriving projects under his umbrella can be trusted more easily. Experienced realtors and developers will provide you with a tentative timeline how quickly things will proceed.

A market survey will give you a better idea about the punctuality and pace with which they’re working on their current projects. Their speed and efficiency in the future projects they undertake will usually be the same. Also, always do thorough research and make your decision based on your observation rather than on what you’re promised. Water, gas, and electricity are some of the fundamentals that you must look for. Other important things to consider before investing in Pakistan Real Estate include commute options, proper roads, solid infrastructure and security level.

  • Be Cautious of Scams & Deceptive Practices

Examine all the details provided by your real estate agent with a critical mindset.

Here’s what you must consider before real estate investing:

  • The layout/construction plan of the project must be approved by the government.
  • The official records of the property’s previous ownership should be available.
  • There should be verified documents that prove that the selling company is the legal owner of the property that is being sold.
  • There shouldn’t be any pending dues on that property, such as utility bills or property taxes. 
  • The title document or allotment letter must be demanded. Make sure to scan these documents or get them copied.

Overseas Pakistan Foundation (OPF)

The government of Pakistan has established the Overseas Pakistani Foundation to facilitate overseas Pakistan in making their investment. You can find the details to apply for their membership on OPF’s official website. It is stated on their official website that any Pakistani living abroad since 23rd March 1979, and holding a valid work visa issued by the Overseas Employment Corporation (OEC) and Protectorate of Emigrants, Bureau of Emigration & Overseas Employment (BE&OE) are registered with OPF are eligible to avail its services.

Why Should Expats Invest in Real Estate of Pakistan?

The rapid growth inPakistan’s real estate marketis the primary reason the expats should invest here.The property investment market of Pakistan has countless rewarding opportunities for overseas Pakistanis and the Investment Facilitation Centre of OPF has made the investment process easier for them. 

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