Therefore, in the context of US investment, when the current depletion of the rupee is factored in, housing in Pakistan has become cheaper. According to SBP, despite the country’s concerns, the economy grew strongly to 5.2% in 2018, after reaching 5.4% in 2017, 4.6% in 2016 and 4.1% in 2014 and 2015.
According to Asian Development Bank (ADB), the economic growth rate is expected to slow to 3.9% in fiscal 2019. Those who work and live in Pakistan can buy or rent properties abroad. However, the government requires them to complete certain legal formalities with the Pakistan Investment Board and Business Development Authority.
New government brought new hope
Investor confidence in Pakistan has improved since Pakistan’s Tehreek-e-Insaf (PTI) party came to power in August 2018 under the leadership of Prime Minister Imran Khan. Khan’s predecessor, former Prime Minister Nawaz Sharif, was forced to resign after being disqualified for corruption. Khan vowed to end corruption and nomadic politics and to bring about economic reforms.
Ahmed from the Shekhani Group said: “The government is taking action. Besides, the safety and security are improving, so the prices are going up. Therefore, now is the right time to invest in Pakistan and the return is very good. . ” . Shekhani said.
This positive outlook was shared by Zameen.com CEO and co-founder Zeeshan Ali Khan. “After the new government comes to power, we see the real estate market reactivating,” Khan said. “People want reinvestment,” he said. There is a sense of confidence in the country and if it continues to rise, we will start to see a rise in prices.
“Although the overall picture after the election is optimistic, market players are still waiting to guide the new government’s economic policies and opportunities in 2019 and beyond,” will train global capitalist partner Sameer Lakhani. “If the government offers incentives for affordable housing through mortgage reform and the introduction of such products through the banking sector – then property values can enter a period of steady growth.”
