Pak rupee is on the move again, falling against US Dollar steadily since May 22, when it was trading at around 80 Rupee. Today Pak rupee is trading at 82.65 per US Dollars. If the current trend continues, we may hit 90 by end of this year.
Falling Pak rupee is also a negative factor for real estate in Pakistan, as potential overseas buyers hold off on their investment and wait for some stability in rupee.
CMY replied on Tuesday, July 14, 2009 08:12 PM
Interest rates are now going to get lower so real estate will benefit most for these coming lower rates. Lower interest
rates move all parts of our economy. We cant get worst with lower interest rates.
May be some one will hold for a week or month but what will he do after that? He will buy property because there is nothing else to do in Pakistan. Mostly people send money to feed their families in Pakistan and for their sisters weddings and for their
houses. They are not going to stop sending the money to Pakistan because they will get more rupee for a dollar latter.
Ch Muajhid Yasin ( CMY )
0322-4009967
042-111-111-040 |
Habib replied on Wednesday, July 15, 2009 04:20 AM
overseas buyersb have to calculate number of things
Currency convertion.
Their leave plan.
and of course market direction.
So often i went to buy in pakistan but could not do because of these three things not matching.
At present market is at the bottom and Convertion rate are in favor too so one can Tap this oppurtunity. The only problem to get best bargain rates and reach Pakistan at right time that is not easy. |
MKS replied on Wednesday, July 15, 2009 06:32 AM
I started to convert my all foreign currency in Pak rupees when it started to appreciate against dollar few years back.
I even advised my foreign friends to invest in Pakistan property and currency as it was quite profitable.
Eventually (as we all know) it turned out to be a big loss. both property and currency took a nose dive.
Now, I will only send just enough money which is just required to feed my dear ones back home. I will not use any banking channels to transfer the money... I will hand carry my foreign currency and convert it from local dealers on daily basis and this is despite the fact that property prices are lower and I can earn more ruppes against every dollar!
Please, review the geo politics of Pakistan and election process... you will realize that the light at the end of tunnel is mere train which will over run every thing and all of us.
Just wait for next elections in 2011-12 and you will clearly see clearly what is the future of Pakistan.
There is a ban in Pakistan on telling truth about the qualities of politicians hence I will not comment but I see a war brewing up among the activists of political parties, where as non popular parties have support of foreign elements |
habib replied on Wednesday, July 15, 2009 06:54 AM
MKS,
That was the time not to buy and today is opposite time. I wish if you trace my ads 3 years Back
If you are Planning stuff for short term then try to enter when maket take upward turn and set your target of gain and exit the market when it is rising day by day [in unrelistic manner which is sign for crash] you will end up getting good profit.
when you are buying for long term holding or making asset for your Kids you Tap the Market when it is on Bottom.
If you are permanently settled in some other country then case is diferent |
