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General Advice discussions and advice. Participate in ongoing dicussions and get invaluable General Advice advice from people who are experts in their industries or start a new General Advice discussion.
JDM
( 730 posts )

[23 Replies]
More trouble for property market as i predicted. Real accountability has started and all culprits are running away now.



Property market crashing big-time. Good for genuine buyers and commercial business community.



https://en.dailypakistan.com.pk/headline/nab-arrests-ex-lda-dg-ahad-cheema-in-ashiana-housing-scheme-scandal/

    1173 days ago In General Advice
    Post Answer
    Sohail Khan
    (366 posts)
    The problem is if any one get caought he start pointing on some one else, that he was also doing.

    Ok but lets start somewhere and give punishment to few big fishes to start with, otherwise cannot put 20 crore people in jails in one time.

    yes no one is dodh ka dhula, but some are swimming in dodh.
      1169 days ago 

      JDM
      (730 posts)
      Generals ho, IK ho ya maryam pagal sareef, strict accountability must hai.

      Saree Haramkhor mittao, Pakistan bachao.

      If culprits are not held accountable, clean economy will not be formed and Pakistan will fall behind India. India already working on 15 year plan to make Pakistan totally irrelevant in this region. Pakistan's existence will not matter if these people stay in power for any longer.
        1169 days ago 

        Imtiaz
        (2291 posts)
        More to follow, in today's DAWN FBR started auditing the real estate investments in the country.
          1169 days ago 

          Imtiaz
          (2291 posts)
          Just Google FBR to eye jackpot in ISB property Audit. The forum is not allowing to paste the link.



          It's another story that spammers get approved with tons of links here but geniune link is prohibited
            1169 days ago 

            Mohammed
            (143 posts)
            Is property bubble going to bust?



            loudly thinking



            most of the ill gotten money is parked in real estate buisness either in Pakistan or overseas. If NAB goes on hunting spree may see panic selling and drop in real estate prices.
              1169 days ago 

              JDM
              (730 posts)
              Imtiaz Sb.

              Were you trying to share this link?

              https://www.dawn.com/news/1391551

              FBR eyes jackpot in Islamabad property audit

              BTW, 34 plots founded by NAB which are in this cheema guys name with each worth from 1.5 to 2 crore. Culprits like these should be prosecuted to the full extent of the law.
                1168 days ago 

                Imtiaz
                (2291 posts)
                Exactly, JDM!
                  1168 days ago 

                  Asif
                  (55 posts)
                  I see at ghar47 website that property prices are crashing. I see in Karachi, plots have decreased in price and house prices seem to be more of stagnant now. How is situation in Lahore and Islamabad?
                    1164 days ago 

                    Asif
                    (55 posts)
                    This is what is written in the post:
                    Pakistan property market is crashing now | Property prices are falling | Bursting of Real estate bubble
                    Pakistan real estate sector was in bubble phase as the property prices were highly unaffordable. High property prices were only due to the massive influx of black money. But after Panama Case Decision, investment in reality sector has decreased as no one can dare to acquire assets beyond means. Due to which real estate bubble has collapsed and property prices are falling. NAB is also investigating illegal housing schemes & land grabbing nationwide. As Pakistan property market is crashing now, let’s see its effects.

                    Buyers, sellers & realtors
                    There are no buyers in the market but just the desperate sellers. Sellers want to sell their properties at any cost to avoid more losses. Buyers are waiting for the more price fall so that they can buy properties at record low price. Real estate agents are closing their agencies due to low sale volume. The only income of realtors is the commission from renting out properties.

                    Property price fall

                    Property prices are falling in all major cities of Pakistan. At the moment property prices are 15-20% down from the peak in early 2017. But price fall is not same in every area. Price fall is more in the areas where day trading and speculation was high. Similarly high end properties are hit hard whereas properties worth up to 10 million are just witnessing the price stagnation.
                      1164 days ago 

                      JDM
                      (730 posts)
                      Asif,

                      You are right. Property market is crashing big-time. I heard that Malik Riaz is pumping his own money to keep Bahria Enclave alive at current levels.

                      CDA sectors are seeing biggest decline so far. Let's see what happens next.
                        1164 days ago 

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