UnRealisticPriceOfPhase9 replied on Wednesday, March 28, 2012 08:23 PM PST
Dear LahoriBaba,
Those happy days have gone when people can even invest / buy at the most unrealistic price of 45 Lac and it was a time of property boom throughout the world and property bubble has already been burst few years ago.There's no point to explain what it was as everyone know those were all fabricated prices during that time.
I can bet you, this is not going to happen again for atleast another 10 years that price goes to 45 when most of the developed and under-developed countries are in deep recession. However, I agree, price will go up only when ballot date is announced and development is started which is more realistic or even if price goes to 45 Lac in 10 years, inflation will mark it as it is at 20 Lac at that time.
So, no point to buy it now at that high price & then regret yourself in few years time, oh, I wouldn't have bought at that unlikely price.
Well, for your point of "while number of people wanted to shift within and from out side Lahore in DHA".
I, myself was born & grew up in Lovely Lahore & I love its every single thing whether its culture, climate, tradition, education, social life which I would say best place to live in than any other part of Pakistan or even any other part of World. I can write a full book on Lahore but this is not right place/forum for that.
I understand people from other part of Pakistan has dream to live in Lahore but where are those people who would have bought DHA 9 file at 35+ Lac or even at 45 Lac more than three years ago, have they moved? Ofcourse, Not, its not that easy to move when DHA hasn't annouced the balloting date for years. Even if DHA annouces it right today which I don't think is happing for atleast another 2 years, it will take atleast 5 years to give possission and DHA Ph 9 is far away from balloting date & then Posession / development and so on so forth.
I don't agree with point if prices of vegetable and fruites goes high then property prices also go high. Ofcourse, it does but other way around that to keep this point in mind that very less number of people has ability to afford this price.
Best marketing strategy is to sell the product is at reasonable/low price which sells quickly rather keeping that stock it at high, unrealistic and unaffordable price which has more risk to spoil or get it expired depending type of product.
Good example is if a fruit/vegetable has special offer/price, it could be sold in hours or even minutes but if its at high price, people only ask the price and went away or buy less than their required quanity which is currently happening in Pakistan where people are forced to buy less quantity because they can't afford it. Do you think people can still buy property at high price where they have no other reserves to spend on their daily necessity.
Another great example which is not common in Pakistan but in Western world, people wait for Post-Christmas Sale which is nearly half or less price of actual marked price before Christmas because they can afford to buy same product or even can buy more products in less then half price of what it was before Christmas.
So, point here is the affordability. If 50 people can buy/afford 1 Kanal file at a realistical price between 15 to 22 Lac but if its 30+, only 10 people can afford it only who have enough money. So, you see, rest of 40 people are gone away from property market. Either, they will keep their money saved or invest in other businesses like IRSHAD ALI has mentioned on his comments.
It doesn't matter if we don't buy the file at this point which is not end of world at this un-realistic price. But I & other people have right to express their thoughts on this forum and I really appreciate the Administrator of this Forum who give us this opportunity to say this bitter truth who might not be liked by some people and its fair enough that they can express their point of view and then its up to reader of this topic to decide whether they still want to invest/buy at this unlikely price.
I wish and pray Pakistan will be the best place to live especially the PEACE and Security situation. I also understand People are used to of bad news and can't get worst what it is now and especially bad management from politicians & Current Government but in Pakistan, always be ready to expect something unexpected which has been happening for the last decades especially during Musharaf & current PP government time.
Another point, I don't agree with "property is the ONLY safest investment any other business is not going to give better return than property".
How can somebody say it where we have seen the property bubble burst in recent past? Do you think people have that bad memory about recent property price fall. I agree with you to little extent its good place for investment only if you have spare money for 10+ years but don't agree to buy property at unrealistic price which is currently at not good price.
Thanks for your time and comments are welcomed. |