M. Ali replied on Monday, March 1, 2010 07:05 PM
I do not think that current market price and trends are sufficient to decide about the future of a scheme for next five years.
My opinion is that once the plots will be there on ground, it will be altogether a different thing than the current market prices.
Bro. Hussain's concern is more of USD exchange rate; as rate is increasing, DHAI is getting benefit of it and the buyers feel they are in loss. Actually, if you turn this around (vice versa) that Pakistan's economy start getting stronger; Pak Rs. start getting stronger and USD starts loosing to that; the buyer will be benefiting then. I know this has not happened in the near past but this is not something beyond in the future.
But the problem is: when this really happens, the developer will find other ways to charge more money because we people do not pay much attention to the terms & conditions section when we buy. Like Bahria Town did for Phase 8 RWL. That project was initially launched for low income people and the cost of the plot included cost of land, development charges except utility charges: Electrification & Sui gas etc. Later on, only for these two or three left out charges, Bahria charged more than the actual amount the buyers had paid. Nothing wrong happened to Bahria and nobody could do anything because (I hate to say that) this is our Pakistan.
Coming back to Bro. Hussain's question. I think, you will have to see your financial situation yourself. I do not think getting out of this investment at this stage is very wise idea or even it might be very cumbersome also.
I think I can say that holding real estate in long term (like more than 10 years) is profitable in almost all of the cases (exceptions are always there; let's ignore them). My personal opinion about Pakistan's economy is that by end of year 2011, the things will start moving in the right direction. I think by then the foreign forces would have started leaving Afghanistan, the war against terrorism would have been more clear by that time. Well, this is my opinion, everyone can differ and will have their own reasons for that. |
