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The reason is prices are low, and people have very little purchasing power.
So investors and owners of plots are holding their investment - they will sell at higher prices even if it takes 6months 1 year to find a buyer.
On the other hand, someone who cannot wait (until he finds a buyer who is willing to buy at the high price) will lower the price. If investors (who can wait) are asking for 22, he will ask for 20, and he will be able to sell in 2-3 months. If he needs the money really urgently, he will ask for 18, then he can sell in one 1-2 months. If his need is even more urgent, he will ask for 15 and then he can sell in 1-2 weeks. etc. etc. etc. So if you want money immediately, you get less; if you can wait, you get more. But if you wait more, the rupee may devalue, and you will still not make a big profit.
Similarly, when you go to buy, if it is a static area eg. where development is not about to start; you should wait until you find a seller who lowers his price because he wants immediate cash. If it is an area where development work is about to start, prices will go up quickly so you should buy quickly and no need to wait for a needy seller because you will cover the difference when the price goes up.
Therefore, the problem right now is in the diminishing buying power of the people inside Pakistan and the wait-and-see approach of the overseas Pakistanis because they are apprehensive about conditions in Pakistan.
Moral of the Story: You should contact a number of good property dealers who do business in that area and wait a few months.
Thank you sir Pk1 for your kind response. You give me time for your analysis about the above mentioned situation.
Actually I want to buy plot 50X90 and I contacted property dealers and they tell me the price about 22 lac. Became confused about market rates because I am new and do not know situation. My friend told me to contact the property dealers and ask them that I want to sell a plot having size 50X90. The you will realize the worth of plot. This was new experience for me and I was shocked to hear corner plot main boulevard 110 ft road price about 15 to 15 lac. Also there were hundreds of problems in location and society credibility encroachments etc etc.
Morel: this experience became fruitful for me to find problems and worth of plot.
So onward I can offer easily of some plot with confidence in this location. But I think property dealer will not sell me plot in this location he will tell me other locations with gupshup to promote that location.
I think this will be fruitful for beginners who want to purchase plot.
I will suggest to all beginners to sell specific plot to property dealers before purchasing that specific plot to know actual worth of that specific plot. This will be useful effort. Then give the bid.
But problem is that you will become "badman" because property dears are more more more sharp than us all.
Allah pal sab k hal pe karam kare, Amin.
589 days ago
Name:rizi Rank:Senior Contributor Total posts:
Name:pk1 Rank:Senior Authority Total posts: