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

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   Common Sense
Wednesday, July 6, 2011 02:27 PM 
Reply: >
Investing in property with the intention of selling it in future is worse than getting interest from a bank in savings account.

Buy buying a piece of land and not doing anything after than and then hoping to sell it for a higher price is just another form of gambling...in fact its worse than gambling, because gambling in casino effects only the person and his family who gambles. But in real estate investment it effects the cost of living of entire community.

So when you buy a plot with the intention of selling it for more price, think again and ask yourself if you are doing the right thing.
JJ replied on Wednesday, July 6, 2011 02:36 PM 

What's wrong in that. A money in bank went into circulation and one is selling a plot because he need the money.

Don't give your stupid FATWA'S here and don't visit this site as this is not for people like you. Why you visiting this site by the way?
asifm9 replied on Wednesday, July 6, 2011 03:11 PM 

Buying a plot for resale is perfactly right if we pay zakat on it i.e 2.5%/annum of market value of plot. If we start payining the zakat religiously, there will be very less people to invest in property. Allah has imposed zakat at all assets which are not use. Property investment has really increased cost of living (food,accomodation). Look at lahore, there are thousands of developed plots which are nither used for agriculture nor for residence due to this sort of investment. This land was once the source of cheep vegetables, meet and milk for lahories. Now they have to pay more for food items and more for residence. If we want to increase our wealth we should invest in agriculture or any ther business which will create job opertunity for the people.
Azad K replied on Wednesday, July 6, 2011 04:09 PM 

People should invest in companies or businesses as opposed to real estate. If they want for their own use then it is fine, but the hoarding of plots with a view to forcing their prices up, has a negative effect on the economy. First of all it ties up huge amounts of money, which is doing nothing but just waiting for prices to appreciate. Secondly that money could be better used elsewhere in trade and industry or infrastructure building.
AK replied on Wednesday, July 6, 2011 06:39 PM 

Well said asifm9.
Ahmed replied on Wednesday, July 6, 2011 10:33 PM 

Any investment which has a risk of loss is perfectly alright.
AG replied on Wednesday, July 6, 2011 11:11 PM 

Gentlemen,

1. Islam does not forbid investment in property. We need to meet the requirements set by Islam i.e pay Zakat etc.
2. Property development helps the nation in a number of ways.
3. It, ultimately, provides much needed housing units which are required in millions for the rapidly increasing population of Pakistan.
3. It provides employment to the poorest of the country, the labourers, masons, electricians, plumbers etc.
4. It supports around sixty labour intensive industries in which again the poorest get jobs.

The best way of Triggering Ecnomic Recovery is to provide soft loans for housing units & trim the prices of construction materials.

Unfortunately our litteracy rate is very low which leaves a major part of our young population without jobs & idle brains which leads them to crimes & militancy because "An Idle Brain Is The DEVIL"s Workshop". Further Acute Poverty fuels the situation.

So my dear friends property development & investment in it Makes Sense.

Kind Regards.
LRE Hot Topics replied on Thursday, July 7, 2011 06:53 AM 

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