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Lahore Real Estate Forum: Property News & Community Talk : ,

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   Amar
Thursday, November 13, 2008 06:22 AM 
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AA

I want to start a disscusion to gain some information on property prices in DHA phase 7. This forum provides great information on many issues, but I have not seen anything stated about DHA 7 plot prices.

I think it is safe to assume prices have depreciated considerably, I have come to this conclusion by contacting a dealer in Pakistan and getting his price on plots that I hold in DHA 7.

I want to know whether prices in DHA 7 wil continue to depreciate at the same level or have we reached the lowest point. Can people comment on this what are prices expected to be after eid and then sya in 6 months time and a year from now.

I understand that no one has a crystal ball but there are many well versed indivduals with the DHA market who have a good understanding of the workings of this scheme.

Please comment.
Still a Pakistani replied on Thursday, November 13, 2008 09:01 AM 

I have few plots in phase 7 and based on my buying, I have already incurred a loss of 7%. However, the real loss is on exchange rate which is more than 20% which makes my loss approximately as 30%. Now let us compare this loss with gains of those who played currency speculation. Shame isn't it, we Oversees Pakistanis sweat in other countries and get looted back at home. Don't know what to do now.
Habib replied on Thursday, November 13, 2008 10:34 AM 

Dear Pakistani You might be more worried
if You would have invested in euros you would ahve lost 25%
If You would have invested in Candian Dollar you would have lost 30%
If You would have invested in Dubai Stock you would have lost 70%
If you would have invested in NASDQ Dow Jones etc you would have lost 25%
If you would have Bought Uk currency you would have lost 33%
If you would have bought Ajman Property or Dubai property you would have lost 50%
If you would have bought Australian Dollar you would have lost 35%
It is unjustified to see retrospectively and say like it would be so so,
Are you sure US Dollar is going to hold next 6 Months Put all you there and I am sure you again cry at 6 months. And say if I would have bought Australian dollar I would be better of. I dont Think 7% Loss is worth mentioning in this economic situation.
Rehman replied on Thursday, November 13, 2008 11:49 AM 

Good comparision by Habib

At the present, my advise is to hold on to any investments, any one has. It would be unwise to seel them at a loss. However, only reason to sell would be if you need cash for some emergency reasons
alpha replied on Thursday, November 13, 2008 01:47 PM 

To add to Habib Sahab's excellent list:
Hedge funds (managed by over-confident celebrity-status money managers) lost $100B in October.
Property replied on Thursday, November 13, 2008 04:07 PM 

Good comparison Habib, assets everywhere have lost value, be it property, commodity or stocks etc. Moreover, if risky investments make a loss, why is it called "loot" since risky investments do entail profit as well as loss. What would profit be called, plunder, i suppose then?
Jameel replied on Thursday, November 13, 2008 07:20 PM 

DHA Plots especially phase 7 is still holding price 7 to 10% is not too much fall in current scenario reason is already they were too much underprice so there is no m more room.
If Dollar Gained Value or Pak rupee devalued it is nothing to to with this property as that is seprate issue, If DHA would not not be good investment its price would have gone down about 30% in current situation I explain you how,
Investment are linked and reaestate Prices are linked to Interest rates and Currency value, When currecy value is stable and Interest rates are low, people revert to Realestae, The moment these things change the investors are in hurry as they can make more profit by switching so thye decrease their demands and are in Hurrry to exit, This situation can result in Price fall of as much as 30 to 50%. But it did not happen and prices adjusted maximum 7 to 10%. The reason 30 to 33 lac price is already down to Bottom Price after all property is not Stock [just papers].
So in Curent stress when pak rupee lost 30% and interest is 15% , DHA Lahore already passed this tough test.
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