Assalamu alaykume everyone!
I want to construct and sell houses, i was thinking whether there is any way to find out whether the houses are selling quickly in an area or not?
There are many factors to consider,Location, your built house quality, asking price etc.
By the way in which city you are planning to construct houses ?
Thanks for your reply.
I don't know whether I was able to convey my message properly.
I am researching for the best location to buy a plot and then construct a house on it and sell it on profit.
Now I have visited different areas in Rawalpindi/Islamabad, such is Ghauri Town, Bahria Enclave, g/13, Faisal Town, etc etc.
The problem is, that the dealers of every area make big claims like there is very high demand of houses here, and houses get sold very quickly here, etc etc.
Now how can I figure out whether there actually is demand for houses in that area?
e.g. Should I talk to the residents in that area, or should I do something else that will disclose what the buying trend is in that area?
Yes discuss with local residents, I think for mid range houses, ghauri town and I-14 is better option.
JazaakAllahu khayran.
Does anyone else have any other ideas?!
I 14 is a big no.Ghauri may be an option but do thorough research.Try to focus those areas where availability of plots is not in access and houses are in demand.In under developed areas,houses are difficult to sell.Also calculate the relative profit ratio in various societies as in some socities e.g G-13 etc,profits are very minimal because of higher plot prices and people are not ready to pay big amounts for houses.
I was about to start similar thread and its better to continue on this thread. Well @ Nosherwan bahi ho much is profit percentage in this business. Lets suppose, if we complete a project in 10M in 6 months how much we could expect the profit. Any depth on this business from any user will be highly appreciated.
Abbasi sb first of all your luck matters.Secondly market condition is overall not so encouraging.Thirdly,for survival people would advise you to adopt cheap tactics of saving money which people usually follow in this field but i would say that you should go for quality work and select the area for construction where people are ready to pay you for quality.As for profits percentage is concerned,if you are saving 15 to 20 percent per annum after paying all the overheads,then its totally fine.