New Government effects on Real Estate
Just a month ago, almost everyone was cautious of making major investments in the property sector but the situation has now changed. With the improvement seen in the stock exchange, along with the Pakistani Rupee gaining value against Unites States Dollar, the zest is expected to transcend to the property sector.
Impact Seen Far & wide
It is widely believed that the drop seen in the market was due to the new taxation system under which the buyers and sellers had to pay much more in terms of taxes under different heads. The situation stands pretty much the same, does it mean that paying more in terms of taxes is not a problem anymore? Well, that can be true because for many people paying taxes under a more reliable structure of governance means the correct use of money. So yes, for a big number of investors, paying taxes on property will not be a problem. In the meanwhile, the hopes are high for introduction of a taxation system that brings more revenue for the state.
Is there any hope for a better taxation system?
The real estate consultants and experts believe that expecting such changes to happen right away will be unfair but they do believe that sector-wide reforms for the property market will be introduced somewhere towards the first quarter of next year.
Reducing the tax a bit is poised to leave a positive impact on the market. Some decision in this regard is anxiously anticipated.
We need to make an atmosphere for doing business.
I think our greatest asset is our overseas Pakistanis .we will fix governance and invite them to invest here.