Well said "every day is not Sunday"- this apply to both property and the currency.
It depends on the right decision on right time, take the example of I-15 alone, its increased by 30-40% in last one year. A good location plot in phase 8 even increased by 15-18%. The people purchased property right after first dip of dolor are still on benefit. while the people purchase property before the first main dip got more loses in short run but they will also correct the losses in long run.
Adding on Peshawar property upward trends, it was a genuine demand as no other right societies are added from long time,
The repatriation phenomena was supposed to be balanced as on one hand might be people moved back from Islamabad / RWP to Peshawar but the main issue was in surrounding tribal areas not in Peshawar therefore also lot of families moved back from Peshawar to their home towns after peace, still the prices increased tremendously in last year as Ilyas sb indicated.
In short a good location property will always be the winner in long run.
Unfortunately, for the USD everyday proving to be a Sunday from last 6 odd months and many more Sunday waiting ahead, as things stand now (unfortunately)!
As per my little knowledge and price check there is nothing of 30 - 40% sort increase in I-15 (in last 12 months), unless some dealer may be playing tricks to my brother Sohail to sell something in I-15 (the usual tactics to sell one). Too tired at this time of the day, otherwise could have dug in the tag numbers to provide a precise +/- of prices.
Even if there is such exxagerated appreciation, USD impcats each individual citizen, I-15 or alike plots dont. Both Real Estate & Cash reserves are needed assets. For time being, USD value is thrashing each aspect of PKR-driven economy and Real Estate is no exception!
Imtiaz sahib, i believe the data is still encouraging in real estate in Peshawar if the calculation is ev3n based on the desired period mentioned by you.......
Sohail Sahib and Isloo 1 sahib...... you both got it.......
@ Imtiaz, 14th July 2018, plot # 17 (25x50), 115/3, 20.5 LAC, what is the worth today ?, then calculate % yourself.
In the budget 2019-20, govt has removed 5 million limit on non-filers to buy property. This is going to have some impact.
In Shaa Allah a very positive impact as property transactions will be increased and state will have more income on stamp papers fee plus a regulatory authority is in the making where all societies will be under the legitimate scrutiny.
If SC makes a decision, in the ongoing MR case, where a portion of plot-transfer fee of all private housing societies must go to the state, next budget will be a bit easy for the govt as huge money will pour to treasury.
In short a good location property will always be the winner in the long run.
Agree to above statement along with others. I can share another example of Isb open land that initialy came out for sale end of 2017 at 35 lac per kanal, sold like hot cakes because of reasonable price for beautiful location, some people i know grabbed 5-8-10 kanal pieces straightaway, fast forward to sep/oct2018 and another friend bought a nice 4 kanal piece at 52 per kanal. Thats 35 to 52 within 1 year. I note currently on zameen.com ads same area towards upper banigala asking prices ranging between 60-80 now i am not sure about the current trading price but lets say if it is changing hands at 70 that means a 100% roi within 1.5years during the so-called real estate doom and gloom times. Just goes to show how its useful to think out of the box sometimes. Good real estate with good location and good access sells itself, no need for big developer brand names. I also agree playing around with alternatives like currencies could also be fun for some people but only for shortperiods, not longterm, example it was fun to play with bitcoin in 2017, enter at around 2-3k per btc and dump/exit at around 9-10k just before dec 2017, thats when everybody got into it. Infact even though it gave profits, it didnt feel good or right, hence a one-off experience only. I guess there is no one size fits all formula, each to their own. However ultimately the ancient old traditions still maintain its place i.e land and gold.
Sohail Bhai, I double checked and that is why later response. Not sure about an individual plot (deal/demand/offer) but overall sectors has only seen more interest and some movement in the light of link road and development tender for I-15. Nothing sort of that much jump, as yet!
There can be examples where one buys a file with a downpayment of 3 lacs and once booking is closed in few month some time the premium can jump from 1.5 to 2.0 lacs, that's also a demand with >50% appreciation but thats never a trend. Dealer tactics must not be mixed with appreciation. Call to Buy & Call to Sell: Signicantly Different Quote Guaranteed!
I shared my view on the very first post on the same thread. I simply reiterate that again, Cash Reserves and Real Estate may not be compared on their face values. One needs cash to run daily matters and on need a land/house to live in.
Here the original point of discussion has been to save in a currency once the uncertainty somehow vanishes.
On lifting ban on non-filters, I would take any positive impact assessment with a pinch of salt. Why because, legally, the status of non-filers is completely eliminated. They will be hunted down like preys. No one is going to keep his money in banks or in real estate. We shall see the biggest capital flight of the history.
Niazi sounded desparate yesterday. In one breath he was begging the nation, in the next, he was threatening them.
Shows the Coke is not kicking in.
Non-filer 5 million plus stuff is 'Jaal say Pehlay Daana' sort. I wish my perception is wrong. Once one goes with the beyond 5 million purchase, he/she may end up with usual FBR blackmailing. Check last time when the evaders remained unidentified but late filers (even by a day) were slapped with a fine on 20k PKR, to be reversed later on backlash!
I mean not a Rocket science to know what does Purchase more then 5 million worth ok for Non-filers and same guys beating drum on no legal value of Non-filers.
.......
FBR clarified. Non-Filers not allowed to buy immovable property or cars.
“The actual position is that the whole system of recognizing a non-filer as a legal entity has been done away with in the new finance bill.”
https://profit.pakistantoday.com.pk/2019/06/12/non-filers-not-allowed-to-buy-immovable-property-or-cars-fbr-clarifies/
https://www.youtube.com/watch?v=iMHyW4fxkwo
A good commentry on new budget implications on property market. This concludes that future of property market is more bleak than I thought. CGT regime revised, now tax will be charged as per normal income rax rates (30-35%) plus withholding tax.
The article also predicts flight of capital, as I feared. Rough times ahead. Ab yaad karo Mian sb ko.
https://tribune.com.pk/story/1990455/2-pti-govt-lifts-curbs-property-purchase/?amp=1
......
No problem for law-abiding tax paying citizens and overseas Pakistanis from middle east who are usually long-term investors.
There is no other choice. Can't let Pakistan fall in to black list of FATF just to keep few property investors happy.
FBR also needs to crackdown on private societies who are bypassing these laws and transferring properties on open-transfer letters/files.
Rough times ahead for dodgy corrupt businessmen indeed as they would be the only ones still missing Mian 'Sahab' ...
Must admit, the level of devotion and absolute servitude to their slavemaster idol is impressive, gota give credit for that to our dear fellow citizens of Darbar-e-Azam.
According to PTI they said they will bring back “looted” wealth, where is that part? What I am seeing is the same old topi drama of arresting zardari and nawazi and in the speech same old crap about them, whats new is more taxes on the jahil and innocent awaam who has nothing to do with it.
Nalaiq-e-Azam is sinking the boat, while shouting and hurling accusation on opponents. Yet there is this fan-following who would not open eyes, would not use their peanut brains to think for a second that they are all sinking.
Fascination is a disease.
While we oppose & propose individuals:
- USD Interbank historical high touching 152 and beyond
- Nepra increasing Power Tariff by 1.5 PKR/unit today
Ty Phoon,
Noora already offered to pay back the "looted" wealth through a third party if government let's him go abroad, just doesn't want to admit it openly.
Have been reading similar stuff since last year or so in some oil soaking, part-time, 2 PKR/KG selling evening Tabloids.
If so, now is the hightime to recover all and throw Noora in exile for rest of his miserable life to drag the USD back to 104 and power tarrifs to the point where they were before Noora looting. While doing so, open admission can be published in same Tabloid to let the Nation know that now Noora has be openly caught in the act!
@ Ab yaad karo Mian sb ko:
Where is the DARBAR of Hazrat Maulana alam Panah Zilla Ilahi Mian Muhammad Nawaz sharif to lit up candles around the walls of DARBAR-E-AZAM for the "great sacrifices" he has done for the well being of the two "great kids" of the Paki nation HASSAN NAWAZ and HUSSAIN NAWAZ?.... Ohhhhhh Dear..... Ohhhhhh Dear.......Ohhhhhhh Dear!!!!!
The story is based on the real life events.....
( In 1999 we had a tour from UET to Lahore, Shahi Qilla lahore was the part of the visit.... when we visited there so there was a tunnel op3ning in the Qilla.... it had been built for the ROYALS to escape in case of attack or emergency..... The hot air entering from outside opening of tunnel was getting cold while travelling in the tunnel and was feeling cool breeze on the inner opening of the tunnel in qilla.... so some DARBARIES or Lahories thought that some Big Peeran i peer was buried there and it is the KIRAMAT of this peeran i peer that cool air was coming from the inside of the tunnel...... Ohhhhh Dear...... so few Darbaries started to CELEBRATE the Uras Shareef of the peeran i peer inside the shahi qilla..... so The op3ning of the tunnel was caged to stop the access of DARBARIES.... so still Darbaries used to come near the cage of the tunnel and used to lit up the candles for their peeran i peer...... I heard one Darbari saying these great words near the cage of the tunnel " OH PEERAN I PEER SAHIB YOU HAVE CAGED YOURSELF AND NOT LETTING US COME NEAR YOU BUT GIVING US THE COOL BREEZE..... PLEASE PARDON MY SIN, while chewing the pan" )...................
Fawad choudhary's Science tip : At certain depth below the surface, the earth maintains her temprature at 25 C......