I would like to have a healthy debate on what is good strategy in term's of Pakistan property market now a days.
Know that our father's typically would buy and then ideally hold property for rest of their life and focus is to always buy and regardless of price movement hold it, until and unless if one is real need.
However, things may be changing in this day and age, e.g. I had purchased a 5 marla plot for 600 K, now I am getting around 850 K (after 2 years)
Similar I had purchased a shop for 2 million, now it is ready and I may get around 2.6 - .8 million,
Behind an overseas Pakistani I do lose on currency devaluation but trying to understand the market trends and hear from experts it is better to hold property in this case or should I take profit sell it and look for new investments?
Regards, Tahir Ali replied on Wednesday, November 23, 2011 09:37 PM
Dear Irfan, I think if we are Overseas Pakistani ....Few things to consider...I actually consider them anyway... 1-Investment is always bring results only by the Grace of Allah...Whatever we think or probably know is not enough....No one of us can see across the wall or whats coming behind us...??? 2-If you are converting currency then think twice at that time....At the end its ur choice to either change the currency or keep the money in any form. 3- I give u my example....I had £30,000 two years ago...I had chance to convert the money into Pakistani Rs and buy a plot at phase 8...or keep the money here in UK and convert the savings into GOLD. I took the decision to keep the money here in UK and bought GOLD... I had some profit now ...but according to my calculation i could make more money by converting £ into Rs and had bought a phase six 1 or 2 plots of 1 Kanal. Hold ur money or put into commodities....Hold ur savings/estates.... If u don't want to realize the profit....and have holding power... Hold it....Rent it...Enjoy rental income and capital appreciation. One of my friend bought four counters in one plaza for 25Lac...when delivered....he was offered 10 lac for each...He decided to keep them...After five years ....these counter each worth 25 Lac and rental income alone from these counters is exceeding Rs60,000....So i think he took right decision.... Dont worry and don't keep calculating currency fluctuation everyday to see how much you would have gained if not converted currency A to B or B to A.... If you have more better option then sell your current investment and buy another...Hope for the best and prepare for the worst... |
Irfan replied on Thursday, November 24, 2011 06:54 AM
Thank you for the advise |