Expats are one of the main source of foreign direct investment in Pakistan. In 2018 expats have sent more than 11.8 Billion USD as remittance in Pakistan in the first 7 months. A major portion of this investment is being used to buy property in Pakistan. Millions of Pakistanis are spread all around the globe to find a better living for themselves and their families. However, at the end of the day they want to invest in Pakistan to secure a home for themselves and their children. Today we need a comprehensive Expats Guide to Investment in Pakistan Property at Government level.
Unfortunately we do not have any plans or policies at the national level to provide these Expats with safe and secure real estate investments. However the public sector has identified this and we can now see dozens of opportunities available to Expats for investment ranging from residential and commercial plots to agriculture and raw land.
The public real estate sector is not regulated in Pakistan and therefore a huge number of projects fail every year and a lot of people lose their heard earned money. Besides this, there are a lot of fraudulent societies who try to rip off people and due to a weak law and order situation, it is too easy for them to get away with this Location of Eighteen Islamabad.
If you are an Expat and you are reading this, count yourself lucky. Although this guide is mainly for safe investments in Pakistan and can help people living in Pakistan as well, it is even more relevant to investors who can not visit Pakistan for years and some times do not have a good grip on local real estate developments. This Expats Guide to Invest in Pakistan Property will give you great insight and useful guidelines to ensure that you make safe and secure profitable investments in Pakistan.
Invest in a rental property in an area and niche in which you are familiar. Draw from your previous life experiences to gain a competitive advantage. For example, if you’re retired military, then buy a rental property near a local military base for military transfers. If you’re a college alumnus, then buy a student rental near your university’s campus. If you’re a nurse, then buy a rental property for short-term nurses near your hospital.
Have a very clear lease in place with all details written out so that there’s no confusion about the tenant’s expectations. The lease should include when the payments are due, what the lease termination fees are, and if pets are allowed. The lease should also include what cleaning the tenant is required to do and if the heat should be left at a certain temperature during the winter.
Nothing kills an investor’s ROI on their first rental property like a bad tenant. Properly and thoroughly screening potential tenants is vital to making your first rental property a success. There’s no excuse not to vet all applicants when companies like MyRental offer a free online application for tenants and a monthly subscription for landlords to verify previous addresses, criminal backgrounds, and eviction history.
I will shortlist a few of the societies where i believe you should focus on, these societies will provide you with ample opportunities and it will be easier for you to keep an eye on your investments while you live abroad. The reason to select these societies is that they are regulated, they have been delivering to the people of Pakistan for years now and at an average they have given best results in terms of profit in past couple of decades. In addition liquidity in these big societies is good and therefore it is very easy when you wish to sell as buying is not the only thing which should concern you and selling is equally important for good profit taking.