How Repatriation Of Afghan Refugees Is Impacting Peshawar’s Property Market

[pakistani342]

Interesting.

Article here, excerpts below:

According to some media reports, the Pakistani CNICs issued to Afghan refugees have been blocked by the government, throwing many Afghan refugees into a conundrum. The problem that has arisen is that, without an active CNIC, refugees cannot sell or transfer their Peshawar homes to new buyers. As a result, there are not many buyers in the Peshawar property market who are willing to purchase property that is being sold by an Afghani refugee. This has given rise to an interesting situation,where all transaction activities in the Peshawar property market have been effectively stalled.

...


A survey conducted by online property portal Zameen.com on real estate agents of Peshawar showed that Peshawar properties owned by Afghan refugees have dropped 30% in value in the past few months. Nonetheless, there are some interested buyers in the market who are willing to purchase such properties at a price that is lower than the actual market rate.

On the other hand, many buyers prefer to steer clear of such properties considering the fact that the land they purchase will face countless legal complications, especially during the property transfer process. Another outcome these investors fear is receiving forged property documents, which will naturally lead to conflicts if there is more than one alleged owner of a single plot of land.

 

[Sadia.Anwar]

The property prices in Peshawar have obviously augmented after the migration of afghan refugee
aarz.pk/cities/peshawar

 

[El Sidd]

No diddle daddle

Even if the whole stock market crashes. These Afghans gotta go home.

We have had enough.

 

[Kabira]

I'm pretty sure foreigners can buy properties but its lengthy process to get permission. Afghan refugees should wait a bit, GoP may come up with plan for those who own properties with illegal CNIC.

No diddle daddle

Even if the whole stock market crashes. These Afghans gotta go home.

We have had enough.

Nothing wrong with afghans with legal documents buying properties. Problem is when they acquire forged CNIC because of corruption in Nadra.

 

[El Sidd]

I'm pretty sure foreigners can buy properties but its lengthy process to get permission. Afghan refugees should wait a bit, GoP may come up with plan for those who own properties with illegal CNIC.



Nothing wrong with afghans with legal documents buying properties. Problem is when they acquire forged CNIC because of corruption in Nadra.

Nope

I have a problem with foreigners buying Pakistani land.

It doesn't matter if they are Afghan or from Bahamas.

Its Pakistanis land. They own it.

 

[Azadkashmir]

Nope

I have a problem with foreigners buying Pakistani land.

It doesn't matter if they are Afghan or from Bahamas.

Its Pakistanis land. They own it.

i actually do have a fcukign big probem with land buyers foreigners shouldnt buy land except those that are pakistani blood even then it should be restricted to how much land and property becuase there are others. i know people that have huge land but the silly pricks dont know nothing about farming.

 

[El Sidd]

i actually do have a fcukign big probem with land buyers foreigners shouldnt buy land except those that are pakistani blood even then it should be restricted to how much land and property becuase there are others. i know people that have huge land but the silly pricks dont know nothing about farming.

Only Pakistani citizens should be allowed to buy Pakistani land.

There should be a regulatory body who oversees it. And most importantly.

Land utilisation authority should be made to make sure full use of the land is possible. With non compliance resulting in penalties in form of taxes.

Land allotted for agriculture should be prioritised. Pakistan is still an agriculture based society.

These politicians are delaying the inevitable revolution and are playing with fire.

 

[Spring Onion]

people are buying these properties at throwaway prices. our neighbors bought a fully furnished 12 marla house sold by Afghan family at Rs13 lakh near ghazi barotha .
same is the situation in Peshawar. property princes came down too much

 

[Kabira]

people are buying these properties at throwaway prices. our neighbors bought a fully furnished 12 marla house sold by Afghan family at Rs13 lakh near ghazi barotha .
same is the situation in Peshawar. property princes came down too much

But how? If afghans had forged CNIC that means its blocked and they can't transfer property legally.

 

[El Sidd]

But how? If afghans had forged CNIC that means its blocked and they can't transfer property legally.

Yes that's a problem.

But forged cnic problem is very simple.

These properties should be first transferred to the state and those Afghans deported after compensation.

Thousand ways of doing it.

 

[Spring Onion]

But how? If afghans had forged CNIC that means its blocked and they can't transfer property legally.

First of all not all cards have been blocked. Secondly many succeeded to get new ones.

Many have valid refugee documents so they can sell.

Above all property prices coming down does not mean that the trend is for Afghan owners.

There is another analogy at work and that is that most of the Afghan refugees were residing in rented houses and as many have repatriated so the rents for locals have also came down along with a trend that Pakistani owners who want to sell are facing difficulties to find higher prices on the part of buyers.

 

[Kabira]

First of all not all cards have been blocked. Secondly many succeeded to get new ones.

Many have valid refugee documents so they can sell.

Above all property prices coming down does not mean that the trend is for Afghan owners.

There is another analogy at work and that is that most of the Afghan refugees were residing in rented houses and as many have repatriated so the rents for locals have also came down along with a trend that Pakistani owners who want to sell are facing difficulties to find higher prices on the part of buyers.

This make sense, good news for people looking to buy homes to live but bad news for investors.

 

[cleverrider]

people are buying these properties at throwaway prices. our neighbors bought a fully furnished 12 marla house sold by Afghan family at Rs13 lakh near ghazi barotha .
same is the situation in Peshawar. property princes came down too much

I checked its not the same in Hayatabad! 1 Kanal 2 - 3 crore

 

[pakdefender]

people are buying these properties at throwaway prices. our neighbors bought a fully furnished 12 marla house sold by Afghan family at Rs13 lakh near ghazi barotha .
same is the situation in Peshawar. property princes came down too much

Wow , that's 3200 square feet house for roughly 13,000 dollars

Scope there for risky investors

 

[Spring Onion]

I checked its not the same in Hayatabad! 1 Kanal 2 - 3 crore

yes but it depends on which phase you are looking for. hayatabad is pretty expensive but prices going down there too. besides its bordering tribal areas and far from main city. when it was planned most of the city people moved there but now reverse movement have started due to security issues. i will suggest you to go for new housing schemes on gt road