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

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   Boota
Monday, December 15, 2008 07:12 AM 
Reply: >
How is the property going in next 2-3 years. Is that going to be more expensive or not.

I want to invest something in this area and would like to have an idea about this.

Thanks in advance.
Boota
Rehman- Qatar replied on Monday, December 15, 2008 10:12 AM 

I personally think that the property will remian low and prices will be more or less at the same level - 10% down till start of 2010.
arsu replied on Monday, December 15, 2008 05:12 PM 

Boota is absolutely right, one should not expect any boom in the realestate for minimum 3 years atleast. Habib i could not understand the good sense behind investing in the realestate at this point of time (though in the areas that are cheaper and possibly be populated soon), knowing that they are not going to pay you for coming 3 years atleast. Don't you think it would be a kind of dead investment. Also with the escalating indo-pak tension in the region, investment in the realestate has become more risky these days. I personally feel its time only to wait and see till the uncertainty vanishes.Would be nice if you could name a few societies that you think are low in price and shall be having residential potential soon.
Habib replied on Tuesday, December 16, 2008 04:55 AM 

Arsu You are absulutely right, but hitory has told that if you invest in booming market you lose and if you invest in right place in slump you gain.
For example Euro was down to earth in 2000 and there was no sense in investing in but People who invested at that time and sold in in 2007 to 2008 gained almost 60%,
in 1998 Pakistani economic out look was very bad and National saving Defence saving certificates was offering upo 18%, but it was crazy idea at that time to invest but people who invested there Got their money 5X
In 2001 UK pund touched lowest level at that time against Dollar and was going down day by day but investor could make their mony 1.5X just in short time.
In 2000 Gold was 20 years low and it was crazy idea to invest in it at that time but now it is 3 times that price [in US dollar not in pak rupee]
Today pak property is V Low
Dubai stock is very low and going down day
Oil is low
But who know what will happen in 2,3 years
yessss replied on Tuesday, December 16, 2008 11:57 AM 

Property values will continue to fall for the next few years !!

There is no way around this reality. World economies are falling and Pakistan will be greatly impacted since most of the real estate is bought thru foreign currency. I am not in the same financial situation I was one year ago. My net worth has dropped too much and I expect it to drop more, as do all of us. This is not about me. This is about most hard working people. The bottom has fallen out. Will it recover? Most think it will, but it will be years !!

How many Pakistanis living and working inside Pakistan can afford to buy houses and land?
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