Property Taxes

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How will the new taxes impact the property market? will the rates go up or down?.

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Dear Ishfaq,

The impact of the property taxes won’t be as much as the hype has been created. In my humble opinion it’ll only impact the short term investors, biyana holders. For the end user this impact is not that much. For medium and long term investors this is fine. The market will suffer a bit in the start but will adapt in 4-5 months. The taxes imposed are still at the low end as only the DC value is expected to increase by 35-40% in DHA. This in turn will encourage end users to purchase plus a small correction which was due will take place. The rates were overpriced due to biyanas and short term investors. The cleansing will take place but to a small effect. At least it’s a start.

regards,

Umer

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