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Hamad Raza
( 17 posts )

[140 Replies]
What are the comments of experts on the statement of chairman fbr. "property prices soon will come down!"

    60 days ago In Investors Advice
    Post Answer
    YC
    (427 posts)
    Thanks isloo
      37 days ago 

      Arshad
      (764 posts)
      In some countries Capital Gain Tax is 40%. The tax will discourage gambling and speculation and encourage long term investing. This would make the real estate market more stable.
        36 days ago 

        Imtiaz
        (1241 posts)
        In some countries, even income tax exceeds 40% and people pay that happily. The country and system we are talking about flourishes on exploting the common to subsidize the elite!

        No comparison at all and real estate as a sector, as of now is on a fast decline. Reasons are obvious!!
          36 days ago 

          A M Abbasi
          (251 posts)
          Thanks Isloo ,

          For the detailed info. Actually gain tax is not that much and i don't mind if i am earning 45lac a year from a plot. Even the gain tax can be adjusted with 1% withholding tax payed at the time of purchase.

          But i think bigger problem with the overseas is not a stable dollar rate gov atleast need to have constant dollar rate at some stage.

          Secondly documentation of economy and property means the black money has to be out that also hurt the people.

          I believe tax rates are hype and misinformation and above 2 reasons are major reasons people are upset.
            35 days ago 

            Isloo1
            (562 posts)
            A M Abbasi,

            Huge and fast profits had made this market attractive for locals and overseas. I have seen people literally going from rages to riches in no time. Then every white collar in major cities became lazy investor to multiply their disposable money.

            I agree that fast declining rupee and totally unstable political and economic situation are the main reasons overseas are holding on to their dollars.

            However, by and large, the factors for property market crash remain the following:

            1) Restrictions on non-filers to buy property.
            2) Higher property valuation rates and increased taxes
            3) Capital gain tax.

            The big fishes who stir up the pond are all under fire. So they will continue to play duck. Petty investors like most of us here are stuck with a plot or two and just killing time taunting each other.




              33 days ago 

              A M Abbasi
              (251 posts)
              Isloo,

              Agree with your all three points that those are the main reasons since i am also in the market and construction industry for the past 15 years. Certainly people are uncertain and not willing to pay tax as it was not the norm. But if you look on a bigger picture those taxes are not that much and we need to educate people and give the right information. Certainly in property market nothing was document and their was a lot of black money which was circulating. People don't want to be filer that's the main issue and its driven by big fishes. Unfortunately seller and purchaser both are confused right now and negative word of mouth every where.
                33 days ago 

                Isloo1
                (562 posts)
                Shabbar Zaidi is being removed from Chairman FBR post.

                He is a smart man, knows that 5.5 trillion target is non-achivable given the fast sinking economy. So he's doing face saving in whatever pretext.

                https://www.dawn.com/news/1494572

                  32 days ago 

                  JDM
                  (730 posts)
                  Jab tak Pakistan ke bera gharaq na kar liya, ye establishment ko sakoon nahin ayee ga.

                  I am sure they will bring a retired general this time to replace Shabbar Zaidi.
                    31 days ago 

                    Isloo1
                    (562 posts)
                    Guidelines for Pakistan Real Estate Property Tax 2019-2020

                    https://lahorerealestate.com/guideline-for-pakistan-real-estate-fbr-taxes-2019-2020.html

                      28 days ago 

                      JDM
                      (730 posts)
                      Isloo1, information doesn't seem credible. No source is mentioned on their website either with few exceptions. I wouldn't trust this document.
                        27 days ago 

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