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

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One of brother M.Abid from German has commented on DHA Lahore Phase 9.

I've few comments on that.

I'M SURE IF YOU HAVE BEEN LIVING IN EUROPE FOR LONG, YOU WOULD KNOW THE PROPERTY DEALER/INVESTOR/CONSTRUCTER have been in deep loss since 2008. We should talk about in general rather for particular or two / three cities/countries like Germany, Holland or France etc. These are the countries which have not been hit hard by recession due to their best Economic Strategies they used to handle recession.

You can't compare the most developed three countries with under under developed country's property business in Pakistan.

Did you not know America and rest of European Countries especially UK, Ireland, Greece, Spain, Italy etc. are still in deep recession particularly Ireland and Greece have already been bailed out by IMF due to bad & blind investment and management of property business. I'm not sure why did you not check the statistics of these countries about property prices before commenting above.
O.k I will tell you now, Property prices in UK, Ireland, Greece are at nearly half the price what it was in boom time in 2004, 2005, 2006, 2007. Even the current property prices are that low but still there are no buyer in the market because they can't afford it as people have no job or money. So do you think they spend money/savings on property business like what you are thinking or referring others. You might have millions of Euros that you can think of investing money. Goodluck...

How can you say property prices didn't fall during crises period in Europe / USA, above European countries are the examples for that.

I’ve mentioned already in my previous post that its best to invest in property if you can spare your money for atleast 10 years by not buying at high prices like what is now happening with 1 Kanal file of DHA Phase 9 that has high risk of loss.

Another supporting point for my concern here is that in Property boom time in Europe, people thought to invest in property business regardless what high price they were buying for because they saw prices were getting higher and higher. People bought even two to four houses having greed in their mind like they bought it at e.g. 500,000 Pounds or Euros and will sell it in double of that price in couple of years time but they have been bankrupted now as they have no money to pay it back to banks or to sell the property because current price of same property/house is nearly half what they have bought in boom time.

And banking system in Europe and America has already been collapsed as you know already. So people who would have bought at lowest price back in 2000 to 2003 have already made the profit or even double of what they have bought before recession started. Do you know what I mean? That’s my point to tell others never ever buy at higher price especially when price changes so rapidly whether going up or down.

I totally agree with brother Abid to be 100% faith in Allah for any profit and loss in life but there are number of hadith of our beloved prophet Muhammad (peace be upon him) to first do the needful before you leave everything on Allah Mighty Allah. One of Sahabi (Razi Allah Talah Unho) was to leave a hourse outside house/camp and beloved Prophet Muhammad (peace be upon him) asked him have you locked the horse with any locking point on ground but Sahabi said he left it on Allah who look after or save him but Prophet Muhammad (peace be upon him) told him to lock the horse first then to leave on Allah. So point is we should do the needful or think wisely before we say that we leave it on Allah whether profit or loss.
Please correct me if I couldn't describe the Hadith properly.

Brothers/Sisters, I'm not an property expert but Allah has given us wisdom to use & spend your valuable money only when you see its worth investing.