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Who determines rates?,

(78219)
   Real Estate
Thursday, May 23, 2013 08:00 AM 
Reply: >
DHA Lahore Phase 9 Plot Files 5 Marla= You Can Sell For 15.85 & Buy For 16.10 Marla Lacs
DHA Lahore Phase 9 Plot Files 10 Marla= You Can Sell For 29.15 & Buy For 29.40 Lacs
DHA Lahore Phase 9 Plot Files 1 Kanal= You Can Sell For 43.50 & Buy For 43.90 Marla Lacs
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Where does LRE get these rates from? Can any one enlighten?
Ibrar replied on Thursday, May 23, 2013 08:02 AM 

Demand & Supply
Real Estate replied on Thursday, May 23, 2013 08:27 AM 

Yes but who determines demand and supply?
Imaginary Estate replied on Thursday, May 23, 2013 10:39 AM 

ROI determines the demand & Supply.
Ibrar replied on Thursday, May 23, 2013 01:53 PM 

Market determines demand and supply. My dear, it is Economics 101. In this case, the demand is high and the supply is limited. Increasing demand will increase the price of the commodity as well. In simple terms, if you are getting more buyers than sellers, the price is going to go up. But if you are getting more sellers than the buyers, then the price is going to decrease. So in this case, the rates of Ph 9 are increasing every day. This means you have more buyers in the market than the sellers. So the demand for these plots is increasing. Hope it helps.
JJJ replied on Thursday, May 23, 2013 02:02 PM 

Number of buyers and number of sellers at each time determines demand and supply and make a rate.
Customer replied on Thursday, May 23, 2013 02:05 PM 

Real customer determine the demand and supply.
If more customer then supply then market is up and expensive and if less number of customer, then less demand and hence price fall down.

Its like if you go to buy a Qurbani animal, if more buyers then price is really up but if less customer but more animals, rates are down. Very simple.
Visitor replied on Saturday, May 25, 2013 02:44 AM 

I think the question was who is the authority and how it determinrs demand and supply. To answer this there is no regulated body and these prices are based on different real estate agents daily transactions.
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