When Pakistan real estate got a jolt

The realty sector, one of the major investment avenues suffered a huge setback in the middle of 2016 after the federal government decided to determine the fair market value of properties being bought and sold by people and collect taxes accordingly. The first six months of the calendar year were …

Paying a Premium to Live Safely in Lahore?

PR KARACHI, 5-DECEMBER-2016: Recently it has become official that Lahore is safer than Karachi when it comes to overall crime and city-wide safety. The findings come from a November 2016 report by Numbeo where the level of crime in Karachi is reported as a high 77.72 compared to 59.38 in …

Pakistan’s Tax Policy Scaring off Investors

KARACHI, 16 September 2016: Pakistanis living overseas are a key contributor to the real estate economy in the country but are recent tax changes discouraging these invaluable investors? After four years of acting like a bull, the real estate market in Pakistan appears to be cooling down, according to analysts …

FBR empowered to carry out property price evaluation

Pakistan government on Monday implemented new rates of taxes, through a presidential ordinance with immediate effect, which will apply to new valuation tables for the purpose of taxation of property in major cities. The ordinance empowers the Fed­eral Board of Revenue (FBR) to determine the fair market value of properties …

Housing shortage in Pakistan reaches 9m units

Pakistan is facing shortage of over 9 million housing units as formal financial sector caters only up to 2 per cent of all housing transactions, the lowest ratio in the region. The State Bank’s Quarterly Housing Finance Review, released on Friday, stated that there was shortage of around 8 million …