The contribution of overseas Pakistanis to Pakistan’s economy is enormous. OP’s send an estimated 7 billion dollars every year.http://www.irinnews.org/report.aspx?reportid=28611
Most the investment by these OP’s is in property, resulting in enormous rise in prices of property.
This has put buying or building a decent house in cities out of reach of ordinary Pakistanis. How can this situation be helped.
Re: Overseas Pakistanis And Real Estate
it will play itself out to some extent.
the number of ppl buying the overpriced property is much smaller than ppl who can buy those, as well as those who cana fford to rent those.
so eventually, if I am an investor with a few properties in Pakistan which I am nto living in, and which are not generating teh type of return in terms of rent that I need, would I buy more?
So aside from the market playing itself out, there need to be plans for affordable housing. incentives for builders to develop such properties etc.
the relatuve stability has also helped real estate prices, dont forget not too long ago prices had gone down in parts of the country due to political situation. it can happen again, if crapolla jhits the fan and expats want to take their funds tied in real estate out, you will see a real estate meltdown of interesting proportions