Dollar is going up every day. It’s near 94 now and seems like it will cross 100 in a few months so for overseas Pakistanis does it make any sense to invest in property in these conditions? I mean due to the devaluation of the rupee even If the property value increases they will still be at loss in dollar terms.
There are two ways of looking at it. One is that if you are looking to buy a plot or house then it has become more affordable for overseas investors. The second view is that investors would refrain from buying plots as they worried about the rupee losing its value more, which will harm their investment.
Dollar is rising against the rupee but property value is also trying to keep pace with the dollar… so it is like keeping your money in dollars and waiting for the economy to get better. Before the elections, it is the time to gamble. If a good government comes into power for example if Imran Khan or Mian sahab win the election cleanly, you will see an immediate boost in property prices. However, if there is a hung parliament (so that no party wins cleanly) then property values will not rise… in fact they will slump in real terms. So we should pray for a clear victory for Mian sb or Imran Khan.
Imran Khan for the win!
Looking at the situation in Pakistan right now a hung parliament looks a very probable option, since no matter what happens Sindh will still vote for PPP, Urban Karachi will vote for MQM, PML Q will have a strong vote in Balochistan… yes in KPK and Punjab there will be a very tough competition between PTI, PML (N) and ANP.