Jehanzeb Ahmad replied on Saturday, July 30, 2016 06:41 AM
In the market, perception plays a very important role in determining prices. If nothing changes fundamentally but most people think that market will go down, it will go down. Same for rising prices. Realistically if plots went up by 100% in the last two years, then they are bound to go down or stay stagnant for some years. If you just extrapolate previous trends, then a plot which went up 100% in one year should go another 100% the next year and so on. This does not happen. Property market was bound for a correction, and it could have been any reason, but now there is a very valid reason. In an economy with a growth rate of 3-4%, nothing can grow at 50% per year in the long run. |