Can foreigners buy property in Pakistan?
Yes, foreigners can undoubtedly buy property in Pakistan and we strongly encourage foreigners to purchase property in Pakistan. At first, the process of buying property might seem tedious and cumbersome but after fulfilled all the legal formalities buying a property in Pakistan is not only safe but also beneficial from a return on investment point of view. Foreigners need to conduct proper research before purchasing any property in Pakistan and we will walk you through all necessary steps that are needed to buy property in Pakistan legally. We aim to provide the
readers with in-depth knowledge about the rules and regulations revolving around property ownership in Pakistan.
How to buy property in Pakistan?
In order to buy or even rent property in Pakistan, foreigners need the following set of
1. A letter from their employer which clearly mentions the designation, employment details along with contact information.
If the foreigner owns a business in Pakistan, he/she needs to present an official document of registration of the business which mentions the nature of the business, location and registration date.
2. Two copies of their passport along with two copies of their valid Pakistani visa
3. Six recent passport size photographs
Documents a foreigner should demand from the landlord when buying/renting a property in Pakistan:
1. An attested copy of the landlord’s CNIC (Computerized National Identity Card), also match with the original to be on the safe side
2. Attested/verified copies of proof of ownership
3. Lastly, a contract should be drafted in the name of the occupant of the house Where to buy property in Pakistan?
Property in Pakistan can be purchased either through real estate agents or through the property websites, these are the safest and easiest routes.
Real estate agents can be easily found by searching on google, they are considered to be the best in the industry because they can guide you properly in case you have specific requirements. Owing to the digitization in Pakistan, many real estate agents can now be contacted easily through their websites and Facebook pages. Furthermore, in this digital age, almost all properties are listed online with their detailed pictures and proper description, which is
useful when shortlisting properties to visit for the purpose of purchasing and renting. Real estate in Pakistan is a booming business, due to its excellent return on investment factor.
However, just like any other expensive purchase, some background knowledge of the location and the market always helps in making the right decision. Properties that are approved and supervised by the government or armed forces of Pakistan are always the safest in terms of ROI and amenities in the area. Whereas housing societies owned by a private individual might be slightly cheaper. In my view, the best place to buy property online in Pakistan is Zameen.com and RealTime Marketing.
Foreigners interested in buying a property in Pakistan must accumulate knowledge about the project by visiting the project’s webpage. The total area covered by the project and its jurisdiction and responsible authority should be checked. Location is the key component when it comes to purchasing a property in Pakistan. The best recommendation would be to visit the location and check the nearest access roads and the necessary amenities. If a physical visit of the site is not possible, these can easily be viewed on google maps, and important information regarding the property can be found on its respective webpage.
When you are going to purchase a property do it yourself or if that is not possible authorize a trustable person to do it for you. The most important step in order to purchase property in Pakistan is to find a trustworthy dealer. Don’t fall prey into the hands of cunning property agents and luxurious offices. Once you have found a reasonable agency inquire about all prerequisites and the detailed payment plan. Comparing market prices of various properties is the key to getting a feasible property at a reasonable price. We recommend shortlisting 4 to 5 properties you like and then contacting the responsible agents to fix an appointment, upon visiting the property inspect the locality and the
facilities and features, we also advise to fix a meeting with the property owner and discuss the entire payment plan with the agent and/or the property owner before finalizing the deal.
In order to finalize the deal, you would typically have to pay token money through a bank order or cheque. Token money is usually 5 to 10 percent of the entire value of the property you are wishing to purchase, also known as booking amount. This amount is counted in the total price of the property.
We strongly recommend to carry out all transactions through pay orders or crossed cheques, as cash payments are hard to track. It is advised to read the property contract and all details thoroughly before making any payments. The sale deed or agreement should be checked properly all clauses should be understood by both parties before a deal is finalized. Realtime marketing is one of the most trusted real estate agents in Pakistan with experience in handling international customers and making their property buying process hassle-free.
Can Chinese buy property in Pakistan?
Yes, the Chinese can purchase land and property in Pakistan. A piece of good news for Chinese people in Pakistan is that agricultural land is tax-free in Pakistan. Being new in Pakistan it can sometimes be difficult and tiring for Chinese to go through the entire process of searching and contacting real estate agents, for this, we recommend Realtime marketing. They are not only the market leaders but also experienced in making the entire process smooth and feasible for international people in Pakistan. All the necessary documentation and legal requirements would be handled by Realtime marketing on your behalf.
Can non-filer buy property in Pakistan?
Non-Filer is not permitted to buying a property in Pakistan. This comes after a notification was issued by state-run FBR (Federal Board of Revenue) in regard to immovable property. They also have been barred from purchasing cars. However, non-filer can rent a property but they would require to furnish their income details as well as financial information. This can be avoided if you use Realtime marketing Real estate agents. Not only they can fulfill these requirements but they can also handle your day-to-day queries with immediate results.
Can overseas Pakistani buy property in Pakistan?
Yes, Overseas Pakistani can buy property in Pakistan but only residential property. However, any property which is later used as commercial will be taxed. They don’t have to file income taxes but they do have to file the annual property tax. In a nutshell, it’s a great time to buy property in Pakistan for overseas Pakistani, due to the fact that high return on investment is being forecasted.
Buy property online in Pakistan?
If you are looking to buy property online you can use Pakistan’s best online real estate portal, Realtime Marketing.
They have apartments, commercial shops, and offices available. You can simply search property according to your requirements in your desired location. Also, you can contact our 24/7 Real Estate agents that can give you a free quote as well as help you in any way possible.
This website is verified by all responsible authorities of Pakistan which helps you make your purchases safe, secure and legit. Realtime Marketing is a safe option because they build their structure first and then give you a step by step view of your designs and customizations for your own dream home. By using Realtime marketing you will not only save time but will also be sure that your investment generates maximum returns.