Did the recession of 2008 affect the property prices in pakistan? If so to what extent?
Looking and the economy of the west and stock market there is high chance the recession may come again next year.. No definite though.
Recession is a small thing to worry, Pakistan's economy is on head-on collision path with a category-5 debt storm.
Time to beg to US and IMF all over again. Pakistan has no other option to avoid bankruptcy.
Do not share wrong info
No one is sharing wrong info only speculating. Its good to be prepared for upcoming events, Specially when you are going to invest in property.
A political Mishap or a Misadventure by Trump admin in coming few months can result in overall crisis including real estate collapse, and that would mainly be due to lack of investors confidence.
Other than that, the current real estate market in pakistan is not how it was in US and Dubai, for instance, in year 2008. Today in pakistan most of those projects see appreciation where there is a genuine demand of living and usage, not a bubble. So no collapse like yr 2008, in my opinion.
US and other countries are sucking wealth from middle eastern countries through cheaper oil. Unemployment rate in US is low. All those who wants a job has a job available for them. Manufacturing is also up. So recession is not immediate at all for USA.
But Pakistan has totally different issue which is record external borrowing and record current account deficit. No one can save us from here except another loan from IMF with help of Washington.
An economic collapse is guaranteed unless tajaba-kaar team of PMLN bring out their kashkoal once again and start begging to foreign powers.
Corrupt Finance Minister ready to drop another bomb on poor and middle class of Pakistan while stock market is declining on regular basis
https://tribune.com.pk/story/1526263/pakistans-crisis-let-rupee-depreciate-increase-tariffs-billion-dollar-question/
When people like you become genius, its crises only Mr investor
down come when there a bubble and it burst, if economic fall down come in the world and as things moving right now property will remain moreover same rest chances of increase in prices, few points not to forget, if crises come in world, lot of [akistanis will come back and increase demand for homes, plots, industrial plot, and investment, if Pakistan will face financial crises than again property prices and gold prices will increase while stock market get down, however, none chance of above but facts are strong investment ongoing in major cities and its fruit about to come whether ring roads, metro, better roads, parks, security, orange train, big malls, chains of food bla blah will increase property so forget 2008 , prices won't come to level of 2011 before until a nuclear war hit us , prices will ain and 2012 to 2017 this will repeat till 2-3 decades one boom year one recovery and three you call correction or stagnant, even market consumed hit of taxes. Furthermore, we are 23 crores now and demand will keep on moving as with electricity, industry even cpec and the economic zone will lift the economy and more middle class, property, housing always remain no 1 choice till many more years, with this govt end even many good things will happen as vanishing taxes, profit on schemes will increase bla bla.
Asad,
Can you name one country who grew on the back of roads, buses and trains? Only large scale businesses and corporation love these projects. They are ponzi-scheme to give you more loans and then hold your economy hostage.
Only Allah knows about future for sure. If someone told me few months back that HBL will get in trouble of $253 million dollars, even I would never believe that because it's the most sound bank of Pakistan. But look at them now. If they were public their stocks would collapse overnight.
So no guarantees of anything in this world, geo-politics is moving fast. Only other option for Pakistan is to sale something to China and continue wasting on stupidd white elephant projects like metro, orange train, motorway, etc. Etc.
As far the bubble, Pakistan has mother of all the bubbles which is "debt bubble"
@Investor: the recession of 2008 was worldwide and it hit everywhere. Now the situation is mixed, real estate sector in Pakistan is maybe stagnant due to strict tax regime that catches tax evaders and non-filers, but the overall economy is growing at 5-6% rate. So, I do not see recession in reality sector. Only artificially hyped projects will see price correction, while genuine projects will continue to rise.
So do not wait for the recession, make your move and invest now. But only in reputable projects that exist on ground.
Please don't spread negativity. You can't see all the positives things happened in last 2 year that we didn't heard in previous 7 years.
Our Stocks ranking, Continuous appreciations in international journals, upgrading in ranking by Moodis, and other such institutions, 5+ GDP growth (just remember where it started), Improvement in ranking by TI in corruption, CPEC investments, infrastructure, reduction in load shedding. .... Just count on.
Please don't just pick the negative things only because of your political affiliation.
@JDM it is related to property and yes infrastructure boost it, will you like to make home on mud road or carpeted, thing is to remain in your skin and to topic and stop fooling people and stop challenging authorities, No one asking you to tell Habib bank was most sound bank, it’s not true first of all, roads, metro etc matter a great deal to property, Generally asking no first human must live like human and than this all come but that I will share with govt forum not here where all interested in property.
Inam,
Qarz Ki Peete Thee, Aur kehte thee Rang Layee Gi Hamaraee Faqa Mastee..........Subhanallah.
All indicators you mentioned are fabricated and alternative facts, and way below the levels of Musharraf's tenure. Yet there was collapse in property prices in 2008.
If you like I can do postpartum of each and every one of your claim without my political affiliations because facts speak louder than words.
@Asad
"stop challenging authorities"................lol
Allah apko aqal de.
Inam,
Please do check the KSE-100 Quote of the day.
https://www.bloomberg.com/quote/KSE100:IND
‘sky-high’ debt worries COAS
https://tribune.com.pk/story/1528668/pakistans-sky-high-debt-worries-army-chief/
Bad days coming for property dealers and developers. Stop looting Pakistani people life savings.
We are about to collapse,External Debt in Pakistan increased to 82981 USD Million in the second quarter of 2017 from 75747 USD Million in the first quarter of 2017. External Debt in Pakistan averaged 52111.99 USD Million from 2002 until 2017, reaching an all time high of 82981 USD Million in the second quarter of 2017 and a record low of 33172 USD Million in the third quarter of 2004.
Advise to all investors: Invest in USD instead of property.
Bad advice. Think about your country also.
Economical situation is very dangerous in Pakistan.Allah pak apna karam kara iss mulk par ameen.
Regards
Faheem,
Totally agreed.
Dollar must and will rise up to 20% against rupee. It will help our exports and improve balance of payments until new government come and form new economic policies.