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Government has ruled out tax amnesty for reality sector

Government has ruled out tax amnesty for reality sector
Rumor about Real Estate Tax Amnesty Scheme

Real estate transactions have greatly reduced due to new property tax amendments. Due to low activities and reduced income, real estate stake holders and realtors recently held massive protests across the country. The common talk of the town was that government is encouraging the realtors to held protests so that government can take back taxes and offer amnesty scheme, as provincial governments have collected less revenue due to low property transactions. But ultimately these rumors died out as no amnesty was offered.

Government is not offering property tax amnesty

Haroon Akhtar Khan, special assistant to Prime Minister on Revenue has totally ruled out the possibility of any tax amnesty scheme for real estate sector. Haroon Akhtar Khan has told Tax Officials on his visit to Large Taxpayers Unit Karachi that government is against any tax amnesty scheme for property sector. According to him government will work with property dealers and lawmakers to bring the undocumented investments in reality sector to tax net.

Pakistan reality sector without tax amnesty

Since last month property prices are stagnant. But now price will fall as fast as they were falling when new tax amendments were introduced. Within 2-3 months property prices will bottom out. Prices will fall to the level where genuine buyers with white money can afford to buy property. Unfortunately, this property price fall will be the worst in history of Pakistan as it will wipe out the investments of developers and investors. But once this cycle is complete, Pakistan property sector will be stable with gradual gains.

Shrewd investors are flocking to Gwadar

Investors are still not short of good investment options. After the first container ship left Gwadar Port for Africa, investors flocked to Gwadar. Within a week property prices in Gwadar have increased by 50%. Gwadar is indeed the game changer and land of promises but we should also keep in mind that investments in Gwadar will mature by 2025. Gwadar is indeed world’s best real estate investment hotspot but it will return profits on long term investments.

Recommended:
Taxes to be paid by property buyer and seller

(60) Comments

    • Rizwan
      These are proposals by Finance Committee
      Lets see the final bill and amendments

      Once declared white?
      But who will buy the expensive properties with white money in future?

      What government has achieved

      1-Crashed the market so that next year budget , government collect all taxes according to Market rates
      2- Huge tax collection
      3- Bringing reality sector to tax net

      Effects
      1- More transactions
      2- Capital flight from reality sector to other countries
      3- Expensive property prices will fall as no one will be able to buy it with buy money
      4- Prices will not rise
      5- Amnesty scheme will fail as lot of investors have already left reality sector with their capital

      Reply
      • rizwan

        on   said 

        ghar47 i am not understanding one thing…..

        what will be the amnesty…??

        will it be for everyone like if i want to buy a house now then when i buy a house and under amnesty i pay the 3% and source of income will not be asked from me…

        or will it be like:

        only for ppl who already own a property and they can get their money white by paying diff in dc value and fbr rate?? but in this case there will still be no buyers in the market as still they will not have any white money ??

        what do you think will be the actual amnesty as per ur study of the situation

        Reply
        • Rizwan

          This is the biggest trap.

          Amnesty scheme is for past transactions, before 1 July 2016.
          Not after that as those people were caught off guard.

          FBR will ask source of income for all transactions after 1 July 2016.
          SO, WHO WILL BUY 500 SQY Bungalow with white money is big question.

          This amnesty scheme will just provide exit for capital from reality sector.

          People dislike when I share or discuss stock.

          Look today stocks, 300 point high.

          What is effect of amnesty on STOCKS? POSITIVE? So stocks will get more investment now. AMAZING

          LOOK AT THE BELOW LINK

          https://www.psx.com.pk/

          Reply
        • Rizwan
          After amnesty real exit of capital aka Capital flight will happen
          As stocks are showing

          Strange but amazing connection

          When stocks were low property was high

          Now stocks are high property is low.

          So today gains by STOCKS is a sign that property prices will fall and capital from reality sector will move to stocks

          Reply
    • Rizwan
      Yes I have read this
      But things are not clear
      3% tax to whiten the money
      1% total WHT, Advance Tax form buyers & sellers (also CGT)

      this IS NO PASSED BY PARLIAMENT YET
      JUST A PROPOSAL
      LETS SEE THE OUTCOME FIRST

      Reply
  1. Irfan

    on   said 

    This blog is too biased in trying to show that property prices are coming down and in denial of an amnesty scheme which is clearly mentioned in newspapers. Please see true picture in reality and not how you want to see or portray it.

    Reply
      • Arif
        One thing realtors are unable to understand
        AFTER SHOCKS OF AMNESTY SCHEME
        BUT
        Government knows it
        This is why it said that you will again protest after amnesty scheme
        WHY?
        Amnesty scheme will whiten black money of transactions before 1 July 2016.
        But new buyers have to show source of income.

        VERY SMALL IMPACT OF AMNESTY SCHEME
        Who will buy expensive properties with white money?
        ONLY ONE DIRECTION FOR PROPERTY PRICES
        DOWNWARD

        Reply
    • Irfan
      True picture is that
      Why government is hesitant to amend laws again?
      According to government, when last time laws were changed every dealer hailed those changes but why they are protesting now?
      Pakistan property market will not be same market of early 2016 before 2025.
      Prices are down every where and this is the reality.

      Reply
  2. Irfan

    on   said 

    To Author Ghar 47: No need to be in denial and say these are just rumours. There are no rumours that Government made sub committed to present tax solution to National Assembly and that Government has said that the bill will be passed in a week.

    Reply
    • Irfan
      I never denied about amnesty scheme
      Amnesty scheme was announced 4 weeks before but could not materialize
      Then Government rejected amnesty scheme
      Now there are once again news about amnesty scheme

      Reply
    • Rizwan
      Many thanks to all contributors on this blog who are real asset of GHAR47

      There are many news circulating in the market
      Total confusion

      There are news that government in offering amnesty scheme
      There are new news that government is not offering any amnesty scheme

      WHAT IS BIGGEST PROBLEM FOR GOVERNMENT?

      Government has just started tax return system in Pakistan which is up til now is not fully functional
      TAX RETURN IS NOT EASY IN PAKISTAN
      Will government return the taxes collected according to FBR Rates?

      There is big ambiguity.

      NEWS BY DAWN

      Government is right. Real estate stake holders agreed when tax amendments were made. Realtors were not forced to accept tax amendments.
      What a shame if government has to changes tax laws twice in a single tax year.

      AMNESTY SCHEME
      Yes government could not collect taxes from reality sector as were forecast
      By this scheme government will collect huge taxes within short span of time.

      OK, AGREE, AMNESTY IS OFFERED AND MONEY IS WHITENED . THEN WHAT NEXT?

      This amnesty will be for old transactions not for new. New buyers / sellers have to show source of income.
      So buyers with white money will be allowed to invest and buy properties.
      GENUINE BUYERS WITH WHITE MONEY HAVE LOW PURCHASING POWERS.
      This will ultimately decrease the property prices.

      What I see is that property prices will take now more time to bottom out due to all these rumors / developments.

      PROPERTY PRICE FALL IS WRITTEN ON THE SKY

      Reply
    • KT Murad

      on   said 

      Couple of quite important points, Mr Rizwan, from your shared link of Dawn news on ‘amnesty’!

      First, the meeting took place and from the ‘read’ of it it looks soon something is going to be decided.

      Second, I quote these paras from your shares link news

      “Mr Mannan exhaled heavily and offered to get one per cent tax on real prices of property transactions.

      “You are paying 28pc to 30pc of DC rates which is already 10pc of the market price but the tax of one per cent of real price will be high, do you want it?” he asked.

      Almost all the real estate agents started talking and suggestions by the Association of Builders and Developers (ABAD) saved the meeting from complete breakdown.

      ABAD Chairman Mohsin Shekhani suggested that the government should allow the buyers and sellers with the option to opt for the existing tax rates or file one per cent of real price of property transaction – whatever was higher.

      Eventually, it was decided that the sub-committee would forward the suggestions to the NA’s standing committee on finance to be recommended to Finance Minister Ishaq Dar.”

      Though not fully clear, but it does appear they are going to offer something either of 1% of actual price or existing tax rates on DC rates.

      Rest Allah Kareem knows best. It might be a delaying tactics as Ghar47 suggests, but lingering it on is not in benefit of anyone. They eventually have to end this ‘uncertainty’, I am certain about it!

      Reply
  3. KT Murad

    on   said 

    It appears that the issue of ‘amnesty’ is not yet over. Quoting ‘The Express Tribune’ dated 22.11.16 here,

    “..the government is preparing to give the largest-ever tax amnesty that will provide space for legalisation of Rs 7 trillion worth of black money. A meeting of the National Assembly Standing Committee on Finance will take place on Tuesday to give the go-ahead to an amnesty scheme.”

    http://tribune.com.pk/story/1238798/tussle-continues-fbr-unwilling-cut-withholding-tax-real-estate/

    Can you confirm the authenticity of the news, from your sources, Ghar47? Thanks!

    Reply
  4. shahid

    on   said 

    what situation in housing scheme where lot of houses built. will vacant plots in such schemes will hav lower resale value than housing scheme where houses r lower than empty plots which investors kept for investment purpose. ??

    Reply
    • Shahid
      Prices will fall more in the areas with more empty plots and less houses. THIS AREAS HAS HIGH SPECULATION

      Prices will fall less in the areas with less empty plots and more houses. THIS AREA HAS LOW SPECULATION

      Reply
  5. Andil

    on   said 

    You claim property prices will bottom out in 1 or 2 months….but you forget most properties in Pakistan are sold on cash not morgaged….the property owner is Under no compulsion to sell the property….their holding power is alot longer than the few months…many are just renting out their properties (houses/apartments) and earning rental income. I think it will take another 6 to 9 months before prices actually bottom out.

    Reply
    • Andil
      Good analysis
      But one thing we must understand
      Holding power of property owners

      HOLDING POWER IN CASE 1 / HOUSES
      People who have houses will definitely rent out their properties and are not in hurry to sell properties on loss, agree

      HOLDING POWER IN CASE 2 PLOTS / INVESTORS
      People who have plots and their prices are falling fast will definitely sell to minimize losses.
      People have to pay tax on empty plots too so have to sell desperately

      Small size cheap property price will bottom out first as they have strong market of genuine buyers

      ON THE OTHER HAND

      Large properties will take time to prices be bottomed out as they will have more price fall.

      HOPE FOR BEST OUTCOME
      Lets see what route PAKISTAN REAL ESTATE sector takes

      Reply
    • Asif Ali Sindhi

      Property prices will keep falling for more 2 months at-least
      We should wait for prices to bottom out
      After that we can start buying property

      Hopefully end of January or start of February will be the ideal tome to buy properties

      Hope things will be fine for 20 crore pakistanis

      Reply
  6. Lovepakistan1q2w3e4r5t

    on   said 

    Haha
    We pmln is best party in pakistan
    Love you nawaz sharif
    Log galte hain
    Pti burger haha
    Abhi tu party shuru hoye ha
    Abhk to pmln free homes bhee de gee
    Pti naya pakistan lol
    Puanana olx per laga doon kia lol
    Just kiding guys
    Atleast we pakistanis have some relief after decade of misfortune

    Was kidding no offence fot pti we all are pakistanis

    Geo ishaq dar

    Reply
  7. Ptitigress

    on   said 

    Wao
    Guys am i living in dreamland let me wake up
    Such a stunning policy from pmln and mr. Dollar
    Unbelieveable
    Goverment has indeed nailed the property mafi and helped out poor people.
    Being pti acive member i cannot praise pmln but…..

    Reply
  8. govt wants investors to invest in gwadar and thats y no amnesty schme being issued for property owners who r investors. plz guide me I want 5 marla plot for home construction. prices in b17 are rapidly falling as ouy of 9000 plots only 1500 are homes rest are plots people kept fr investment purpose. bt due to current situation investors are running away. plz provide comparison of b17 cda near taxila or new city wah cantt. while in new city lots of houses r being on the way to construction. but due to wah cant code im bit confused. need ur honest review and suggestion. want for house aftr 2 years depending on job posting. if not here will sale and move to next place according to job placement. so I want both house and investment.

    Reply
    • Adeel
      Many people are saying this that government is not offering amnesty scheme for property sector so that prices remain low and people invest in GWADAR REAL ESTATE.

      Yes prices are falling everywhere
      Both projects you mentioned are good for building houses / living.

      Prices will fall for more 2-3 months.
      Its better to buy property by end of January as you will get cheap properties.

      Reply
  9. YOUSUF LODHI

    on   said 

    THERE HAS BEEN ONE MORE REASON FOR PROPERTY PRICE BOOM IN PAKISTAN WHICH HAS BEEN IGNORED BY MANY CONTENT/BLOG WRITER THAT:

    – BILLIONS OF RUPEES WERE INVESTED BY LOCAL PAKISTANI CITIZENS IN THE SCHEMES OF NATIONAL SAVINGS CENTRE DURING THE PERIOD 2007 – 2010 AT WHICH TIME THE INTEREST RATE WAS AS HIGH AS 18%

    – DURING THE SAID PERIOD OF TIME, A LARGE NUMBER OF PEOPLE HAD SOLD THEIR PROPERTIES AND INVESTED IN NATIONAL SAVINGS SCHEMES. THEREFORE PROPERTY PRICE WAS QUITE LOW UP UNTIL 2013

    – POST 2013, THEN THERE WAS A TIME WHEN INTEREST RATE WAS TERRIBLY DECREASED ENDING UP TO AS LOW AS 5% GENERALLY

    – DUE TO THE ABOVE FACT, A GREAT AMOUNT OF INVESTMENT WAS LIQUIDATED BY INVESTORS AND WAS DUMPED IN PROPERTY MARKET RESULTING IN HUGE PRICE INCREASE PARTICULARLY BETWEEN 2014 – 2015 BEING ALMOST DOUBLE EVERYWHERE IN PAKISTAN

    PRESENTLY, THERE IS A SLIM INVESTMENT IN SCHEMES OF NATIONAL SAVINGS CENTER AND NO HOPE OF ANY FURTHER AMOUNT COMING TO REALTY SECTOR WHICH IS RESULTING IN ” NO BUYER ” IN THE MARKET AND ULTIMATELY FALL OF PROPERTY PRICE ALREADY STARTED AND WILL CONTINUE BY THE TIME

    Reply
    • YOUSUF LODHI

      PROPERTY PRICES RISES DUE TO FOLLOWING REASONS:

      1- High demand and low property stock
      2- Massive investment in real estate sector
      3- Low interest rates, in this case people get low returns from banks and people withdrew investment from bank and invest in property sector.

      FIRST PROPERTY BOOM IN PAKISTAN 2003-2005
      Reasons of rise 2003-2005
      1- Record low interest rate 7.5% in history of Pakistan at that time
      2- Situation in USA after 9/11 and Pakistani people moved back home with their investments
      3- Pakistan got massive aid due to collation partner. This money was used for different projects. Every sector saw boom and people got jobs and businesses. Ultimately lot of this money ended in real estate sector and prices boomed
      Reasons of property bust 2005
      1- Better condition in USA and people moved back with their capital
      2- Bank interest rate was raised to 9%

      PAKISTAN PROPERTY BOOM 2013-2016
      Reasons of price rise 2013-2016
      1- Interest rate was decreasing since 2010-2016 and still is record low at 5.75%
      2- Rise is foreign remittance record high $20 billion
      3- Massive infrastructure developments
      4- Stocks were low so people invested in property sector
      5- Due to electricity shortage no other industry was fine just property sector
      Reasons of property price fall Since July 2016
      1- Stocks are booming as Pakistan Stock Exchange is one of 5 best performing stocks in the world
      2- Property tax amendments 2016
      3- High taxes on early sale of property
      4- New property valuation rates by FBR
      5- Blockage of black money from reality sector as FBR is asking the source of income.
      6- Investments in reality sector has dried out as black money cannot be parked in reality sector and investors are moving towards stovks

      Reply
  10. rizwan

    on   said 

    YES GHAR47 IN SHA ALLAH THIS WILL VINDICATE YOUR STANCE ALSO ABOUT FALL IN PROPERTY PRICES…..GHAR47 KINDLY TELL WHATS THE SOURCE OF THE NEWS THAT THEIR WILL BE NO AMNESTY?? HAS HAROON AKHTAR SAID IT??AND ON WHAT CHANNEL??

    Reply
    • Salman
      Total wrong argument
      This argument is just to pressurize government to take back taxes which is not happening.
      Where will people invest Dubai where property prices are falling.

      Yes for investors its Gwadar.

      Prices of Gwadar properties are increasing day by day.

      GWADAR IS WORLD’S #1 PROPERTY INVESTMENT HOTSPOT

      Reply
    • rizwan

      on   said 

      not true….this is just said to pressurize govt….and if black money goes let it go ….it is good for genuine hard working pakistanis

      Reply
      • Rizwan
        Realtors and real estate stake holders are leaving no stone un-turned to reverse taxes as they know that time is running out and they are trapped. With every second property prices are falling as investments are drying out.

        Reply
  11. Overseas

    on   said 

    A blog from Zameen.com. that should not be overlooked prior to any conclusion.

    The real estate sector plays an important role in the economic growth of any country and Pakistan is certainly no exception, where real estate and its affiliated 50+ industries such as cement, steel, pipe and paint massively contribute to the country’s economy and collectively provide a large number of jobs.
    Out of the total remittances sent by overseas Pakistanis, an estimated $7-8 billion worth of investment goes into real estate every year. This is based on the decades of trust they have placed in this sector where they consider their investment safe and secure.
    Through the Finance Act 2016, the government decided to revise the official values of properties. This was a long overdue task because the previously in place Deputy Collector (DC) values were far-off from the market values. In principle, this was a good step. However, the implementation details were not carefully thought through by the government. This caused massive panic; the activity in the real estate sector virtually stopped. The crisis was further aggravated when some sections of media painted a very negative picture of this valuable sector, causing further discouragement for people including overseas Pakistanis associated with this sector and its affiliated industries.
    Some common arguments raised against real estate were that it’s primarily a speculative market and the term “black money” was used for investment in real estate.
    In any free market (e.g. stock exchange or commodities exchange), there’s always an element of speculation. The market does not operate unless there’s a healthy level of speculation. There are always buyers, sellers, optimists, pessimists, bulls and bears. Together they form a market. Surely, if the level of speculation is too high, then caution must be exercised. Usually markets go through periodic phases of self-correction and the real estate sector of Pakistan is no different. So, if there is an element of speculation, it is not a bad thing. It is one of the essential elements based on which a free market operates.
    Another view that was widely propagated, but is not correct, is that the real estate sector of Pakistan is where all the “black money” is parked. The reality is that it is not appropriate to call it all “black” or “illegal” money. Due to the old practices of registering properties at DC values, hundreds of billions worth in mmoney could not be documented, even though this was the money earned through legitimate means by local and overseas Pakistanis. Declaring it black is equivalent to terming the remittances worth billions of dollars sent every year by overseas Pakistanis or the hard-earned money invested by local population in real estate illegal. Obviously, this is far from reality. What message are we giving to local and overseas Pakistanis, who have always trusted this sector and have invested their life savings into it? We must ponder over this question!
    Illegal money must be condemned in all forms and culprits must not be spared. Money made through corruption makes its way outside the country to other companies and gets parked in many avenues and commodities including gold and real estate. This money must be caught at source. But on the pretext of curbing black-money transactions, if an entire sector is declared illegal and crushed, that seems to be a big mistake. By calling it “black money” we are intentionally overlooking the reality that it is legitimate but undocumented money. Other countries would welcome investment from Pakistanis with open hands (just like they have done in the past). It is believed that overseas Pakistanis have already started diverting their investments to UAE’s real estate in the past 4 to 5 months of panic in Pakistan’s real estate market. According to the government’s own stats, remittances which were at an all-time high during the last fiscal year have started to fall after changes to the real estate tax laws were made in July 2016. So it’s Pakistan’s loss.
    Investments in real estate are primarily legitimate but undocumented. It is indeed important to change the old practices which resulted in such a large size of undocumented economy in the first place. But at the same time, undocumented money cannot be classified as “illegal” or “black”. What is the practical solution to come out of this apparent deadlock?
    Incidentally, an example exists in the recent past of Pakistan that is worth considering. In 2010, the stock exchange of Pakistan faced a similar situation when the government had introduced Capital Gains Tax (CGT) for the first time. Prior to that, investors were not required to declare income earned from the stock exchange in their tax returns. This rule changed in 2010, when the government mandated the declaration of income from the stock exchange and applied CGT. The stock market saw one of its worst recessions because a large number of stock exchange investors did not have “declared wealth” that they could invest in the stock market. Real estate investors face exactly the same problems today!
    The stock exchange crisis did not come to an end until 2012, when the government recognised that even though the past investments in the stock market from 1974 to 2010 were undocumented, they were legitimate. So, the government decided that no questions would be asked by the Federal Board of Revenue about the source of money to be invested in the stock exchange till 2014 and to treat total wealth as white from 2014 onwards. A well thought out relief package was given to the stock exchange after which the market rebounded. Today, a vibrant stock market is a testament that it was the right step. The real estate market is in a very similar situation today and requires a similar package.
    After almost 5 months since the crisis started in the real estate sector, there is news that the government is now working on a relief package for this sector. One can only hope that this time the salient features of any package are properly thought through and have inputs from major stakeholders of this sector. We cannot afford another miscalculated move that may propagate the crisis, which started after the Finance Act 2016 came into effect.
    Disclaimer: The views and opinions expressed in this article are the author’s own and do not necessarily reflect those of Zameen.com.

    Reply
    • Overseas
      This is not written by zameen content writers but some industry expert.
      Many valid points in this argument.
      But I will say it wishful thinking.
      What is happening in the market is very different as government has totally refused the amnesty scheme.

      Prices will take nose dive now but one thing is very strange. GWADAR Property prices are rising.

      FEW QUESTIONS / NOTES:
      Pakistan has assured IMF that no amnesty will be offered. So it has not hapended

      Property prices are falling nationwide but are rising in GWADAR

      GWADAR VS PAKISTAN?

      So crash in all cities will lead investments to GWADAR and development period of GWADAR will be short.
      GWADAR is game changer.

      Reply
    • rizwan

      on   said 

      THIS IS NOT ZAMEEN ARTICLE ….IT IS JUST A COPY PASTE BY ZAMEEN AS THEY ARE TRYING TO BE MOUTHPIECE OF BROKER MAFIA TO PRESSURISE GOVT TO BACK DOWN…..THIS IS COPY PASTED FROM ARTICLE OF PAKISTAN REAL ESTATE INVESTOR FORUM WHO IS TRYING ITS BEST TO PUT PRESSURE ON GOVT BY SPONSORING AND PROMOTING SUCH ARTICLES SO THAT GOVT BACKS DOWN AND BLACK MONEY CAN STAY IN THE MARKET SO THAT THEY CAN ENJOY HUGGEE PROFITS AT THE EXPENSE OF GENUINE BUYERS WHO CANT EVEN PUT A ROOF ON THEIR CHILDRENS HEAD AND ARE SKIMMED BY RENTAL MAFIA BY PAYING HIGH RENTS

      Reply
  12. Saima

    on   said 

    Great news. Finally a big day for real home hunters and resounding defeat big no yo money collected from corruption.
    Waiting for the record low price so that people can have some roof over head.

    Reply
    • Saima
      According to Haroon Akhtar Khan all measure are to discourage the black money hording in Pakistan

      Pakistan 20-25% economy is undocumented and only 1% people pay taxes. We want benefits like Europe but we are not paying taxes like Europeans.

      The dawn of new era is upon us. Hopefully Pakistan is moving in the right direction.
      Especially to end all ambiguities its better to collect all taxes according to market value / real transaction. FBR will do it in few years time.
      Soon reality sector will be free of black money and it will behave sanely where market is stable with handsome profits.

      People are still denying that Pakistan property boom was due to black money.
      If high property prices in Pakistan were not due to black money investment, then why prices are falling absence of Black Money?

      Pakistani population is very poor as 40 million people have no wash rooms no kitchens.
      People are living in shanty towns in unhygienic areas.

      PAKISTAN DOESN’T NEED PROPERTY / HOUSING BOOM
      PAKISTAN NEEDS HOUSING REVOLUTION WHERE EVERYONE HAS ACCESS TO A DECENT HOME.

      Reply
    • rizwan

      on   said 

      IN SHA ALLAH WE HAVE SOME HOPE OF BUYING OUR OWN HOME RATHER THAN LIVING ON RENT WHICH EATS ALMOST ALL OF OUR MONTHLY INCOME …. HOPING FOR A MAJOR PRICE FALL IN THE MARKET

      Reply
      • Muhammad Asim

        on   said 

        InshaAllah … living on the same hope too.
        Ghar 47: Should we wait for one or two months more to see the significant price fall or is it the time to quickly buy the property? I am looking for an average/small sized residential flat or home, will the price fall impact be visible on these small sized properties as well? Just need an opinion from your expertise and market analysis?

        Regards,

        Reply
        • Muhammad Asim
          In shaa ALLAH prices are falling and will keep falling.
          Prices will bottom out in January 2017.
          Its better to wait 2 more months.
          End of January / Start of February will be the time to buy cheap properties.
          Month of December will prove blood bath for Pakistan Reality Sector especially high end properties.

          S mall size and cheap properties will have less price effects as they always attract lot of buyers and have strong market of genuine buyers
          In Pakistan small properties are not used for day trading or to park black money so price fall will be less.

          Reply
  13. Darkday

    on   said 

    This is the news we were waiting for. Game over for people with black money.
    Ishaq dar we love you.
    You have achieved whst was impossible. This is real naya pakistan where there is no place for people with black money.

    Reply

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