Lahore Real Estate Forum: Property News & Community Talk : ,

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I think its time for everyone involved in the property business to reevaluate their future course of action. The past has been very good and profitable but making predictions on past performance can lead to loss. There are far too many factors going against the property business in Pakistan. Some of them might be temporary but some will be permanent. Here is the list that I have compiled

1. FATF is not satisfied with money laundering laws and has identified real estate as the main place where black money is parked. They have given 6 months to Pakistan to make a system to track every single transaction for source of funds.
2. FBR is sending notices to anyone who buys expensive property whether filer or non filer to explain source of funds and tax paid on those funds.
3. Non filers cannot buy property which is 99% of population
4. Overseas Pakistanis can buy property only if the entire amount of the deal is sent within the last two months only.
5. Out of a total of 9000 registered housing societies in Pakistan, 5800 have been declared illegal by the higher courts.
6. All big property investors and developers are under investigation for one reason or another including Malik Riaz.
7. Rupee losing value has discouraged foriegn investors to convert their dollars into rupees and invest in rupee based assets.
8. Most property is already very expensive for Pakistanis.