A million dollar at the moment is whether people should buy real estate now or later.
B.E.F.O.R.E
Elections 2013 or
A.F.T.E.R??
I think there are two possible scenarios in relation to elections 2013:
1. Prices will rise dramatically
(if any political party which is seen as business friendly wins at least 50% seats)
Or
2. Prices will become slow but will not drop
(if no party is able to win 50% seats so that there is no clear winner and there is politics of make and break, lotacracy and dispute between centre and provinces)
So it is a good time to buy because prices will not drop but can increase if we are lucky enough to get any clear winner who is considered pro-business.
What is everyone's opinion?
Literally a million dollar question :). I have some money to invest and i cant decide. Cant wait for rest of the members to give their opinion.
Well, i think, the property prices will increase after elections but the difference will be that if any business friendly government comes then prices will jump high and if other people come then the normal rise will come.
As you all may have noticed, the rise in property prices has started for last one year. At the moment it is very slow or stopped but not declined. So in my opinion, i don't see anything which will affect the property prices to go down after elections.
But as the prices r now stopped, then i think this is the best time to invest because after elections a sudden jump will definately come because any new government will do many promises with people and market will boost up.
In pakistan one should try not to be too athematical like wallstreet. In us stock market fo rthat matter many other businesses flourishes and wane on the financial gurus speaking about this like this.. Election.. Wars.. Petrol prices and bla bla bla but us got money california alone is no 9th economy in the world they might be bankrupt as a nation but any one with decent credit score can get a loan and purchase something big there. In pakistan it is all the cash in hand and for that matter if the supply is more than the demand then prices will come down. The recent stalling of the momentum of price hikes in islamabad is mainly due to oversupply and scarcity of potential buyers. I personally think inshaallah the prices in islamabad will not be affected much by government rather slightly affected and then go down no matter what the government is or want as the current prices are not realistic for a poor country like pakistan.
Hi all,
In my opinion the prices will remain somewhat stable during the election period with a little dip at most .
As everyone has said, the results will have a huge impact on prices in the future.
I believe investing now or in a months time will not make a huge difference, however as per my reports the prices are staying stable although market is slowing down a little.
One piece of news i have is that files in dha phase 9 balloting might happen in the coming few months so maybe buying now is not a bad option although the prices have touch 40 lakh already.
Regards, Zeeshan
Elections is a big business activity with around 20000 candidates in the field at present. If only 50% are left in the field on election day than there will be 10,000 candidates. If on average each candidate spends 1-2 million rs the amount of money poured in the economy during the electioneering period should be around 10,000 -20,000 million at least. Each candidate and their supporters will be looking for ready source of cash during this period. One of the sources of cash is real estate. So by this logic during the electioneering period there should be a dip in the price during the electioneering period with more activity on selling.
2007-8. The guy was saying the foreign remittance from usa alone for that year was 6 billion dollars and that he was happy that it rose to 9 billion us$. I might be remembering it not very correctly( the exact amount) but there was a huge difference in one year in terms of foreign remittance from usa alone. One could think with a country like pakistan which has mashaallah such a huge diaspora spread across the globe and mashallah very rich ones too, once could expect a huge spike in foreign remittance from the western/gulf region to our tiny economy inshaallah. That being in situation if the government is pro pakistan and with max majority. Inshallah that could really swell the cash flow and real estate being the safest and probably the only avenue to invest for most overseas pakistani you can expect what that could do to prices n islamabad.
Sinfull To allah do we belong and to allah shall we return
I agree with mohammed's reply above.
A lot of cash and liquidity have gone into elections activity and investors are 'investing' in the campaigns of their favorite candidates. After elections, funds will gradually start moving back to real estate property. Then prices will start rising again.
If there is a clear winner and a pro-business political party, then local investment and overseas pakistanis savings will find their way into real estate and real estate will take a jump.
So it is a good time to invest now.
I agree with Zunail and Pk1 but one should keep in mind that buying property is long term investment.If anyone want to make quick money through property, he should be very lucky, additionally and more importantly he should have insider information from big property pundits.
I personally feel buying property in pakistan, specially in islamabad and in big housing society projects, there is very little chance of loosing money as people buy property with full equity, not on mortgage.Buy at any time, but property should be selected carefully with thorough research.
According to my information, property in some areas is still rising and I think after elections property will rise further, as more money from abroad would be coming.New Government will try it s best to attract foreign investment, overseas Pakistanis would have more confidence on new government,
Hi - as elections are nearing and we see no hinderance yet and looks like that this would be a smooth sailing, i believe after elections, prices will increase. Ramadan and eid will be another occasion due to which overseas investment increases enormously! We suggest that this might be the best time to invest in real estate!
Ps: gold prices are declining and many goldsmiths are already lined up to invest in real estate. This is the only sector which is doing well!!
Arshad bhai i agree with your point about very careful selection of where to invest in pakistan's real estate sector. However, i dont think you need any secret info or insider info. It is all about how you judge and compare particular investment opportunities.
You may be considering 3 or 4 investment opportunities before taking a final decision. For example, your choice may have to be between (i) b-17 e block; (ii) pechs; (iii) cabinet society; (iv) f-16 etc.
The way in which you have to make your decision is by considering (i) what is your budget; (ii) are you investing for constructing a house (iii) how soon do you plan to build the house; (iii) if purely for investment, then how soon do you need to encash your investment; (iv) do you need the house for retired life or for working life; (v) if for working life, how much is your income and expenses - can you afford the petrol for daily commute from a long distance (vi) if for retired life, then it may be useful to buy a big plot even if it is at a distance from the city center etc. Etc.
To help you take your final decision, you can discuss with society officials, and also talk to a number of property dealers who work in each of the sectors you are considering and most importantly you have to visit the localities and see what is the trend of buying and selling and how many other societies in the neighboring areas and how many houses already built there.
Finally you can pose your questions on zameen website and do a word search to read everything that has been posted about the sectors y ou are considering. All of this can be done in 2-3 weeks.
Then you should do istikhara yourself for 7 days at least and then finalise your decision and go for it. Insha. Allah you will then benefit a lot.
Pk1, i always like your comments man.You talk through logic, you always do your research and give advice with sincerity.There are few on forum which gives some sweeping statements without any research and knowledge which can mislead to genuine investors.I appreciate your comments man.
Well its true to a great extent that these days due to very bad energy crisis and overall security chaos, most of the businessmen have diverted their investment to real estate - the safe lazy haven!
Its not that there have come up some gold mines around the city since 2012, nor has the housing demand doubled; its just that people don't have another choice. So instead of sitting on cash, they tend to invest it in real estate.
Now one would say, why since 2012 and not before as the situation has been the same since 2008?
Well, since last year people started to anticipate a new and better government, just seeing it around the corner. They could not have shifted their money from one bad choice (business) to another (real estate) in earlier years, as the waiting time was too long.
So, overall, i would conclude it this way, if a good government with majority comes up, prices will stabilize and increase steadily but people will shift back to their original specialties of business too. Real estate passion may drop!
If a bad government (halwa of diff parties) comes, overall prices may sink or may shoot up sharply.. As pak has its own economic spirals
But one thing is for sure we'll be cursing each other on different forums. :)
To buy or not:
Well, do not miss a good deal and buy.
By that i mean there should be a justified price for the property. Don't fall victim to unusually hiking properties, where you yourself can not understand the reason of hollow increase.
If you wisely pick an option, this is a good time as market is quite slow and you should be able to cut a good deal.
Investment in f-16/4 before nallah is charming place. As grid station is working and prices are still at low as compare to g=15and f-15 . So f-16/4 have high potential to come up
Salam
Cost varys work fully guaranteed for 3 years Total break down of cost available after site vist
We wuold need to know the sizes of roof and back yards etc Also what kind of kitchen cabinets required example-built from start or ready made
So price may vary- i am sure you will understand it difficult for us or any company to give you a exact price with out visiting your property but i have given you an expected cost.
We have a simple but honest and very effective pricing structure which works out for both the customer and us
Apart from materiel which is either supplied by customer or by us(if we supply we basically pay for at and give you the invoice and you pay us what ever we pay,our aim is to get the best and the cheapest rate as we want our customer to save money.If you can get some things cheaper than us we would be more than happy to know so we can save future customer money)
We basically charge you labor charges and between 16-20% over all fee
So you pay for for what you use Example:it takes 2 painters 4 weeks to paint your whole house so you pay there monthly salary x number of staff 11000*2=22000 plus 20%(4400)=26400 for whole house We don't see the point in taking longer on jobs as it makes no sense to us as a company so we rather finish job of sooner and move to another one as makes financially sense for us. This saves us time and money and more importantly the customer
Companies charge by sq ft etc but we like to be transparent in all we do this way there no hidden charges of course there may be a day over or under but we give you a completion date for every task and we try our up most our best to meet the targets or beat the target saving the customer money
Our main priority is customer satisfaction
Finally on every job we have one person in charge on site that is always there if you have any issues -we are a complete contractor so we can have all task like painting plumbing and electrics at the same time We work along side your engineers and architect. We also give you a certicfacte signed by our arcetic after we have completed the jobs as well as a guarntee certificate We are a uk based company in pakistan we build renovate property for over sees clients
If interested reply with your email address name and contact number if possible.
Allah hafiz
Its the best time to buy property in islamabad, a time will come very soon where buying a piece of land in islamabad, pakistan would be not less than a miracle.
Dear masakin consultant,
I agree with you that the value of islamabad property can be expected to rise faster than the rest of the country and that will take it beyond the reach of many people wishing to own a home in islamabad.
However, the time frame for that will depend on many factors such as:
(i) conditions in pakistan i.E. Law-and-order, economic opportunities and energy security;
(ii) conditions outside pakistan for example if it gets tough for muslims and pakistanis to continue living in the us and other western countries due to possible reaction against muslims or pakistanis (. God forbid), then you can expect a massive interest of overseas pakistanis in pakistani real estate especially islamabad and lahore;
(iii) political stability in islamabad and continuity of democracy. Continuity of democratic governments in islamabad without conspiracies will give confidence to local and foreign investors.
(iv) law and order in karachi. Unfortunate events in karachi usually impact prices in lahore and islamabad. If karachi is burning, people move up north to multan, faisalabad, lahore, islamabad etc.
Therefore, investing in islamabad at the moment makes it a gamble but a calculated gamble.
We should hope and pray that prices rise due to natural progression of demand and not due to unfortunate developments. If pakistan rises, so will the value of our investments in pakistan. If. Allah-na-karay, pakistan declines, the investments will gradually become worthless. Even the local residents will not invest in pakistan, if pakistan does not offer education and jobs for their children and if there is no electricity and gas.
Just wait 10 days more everything will be clear