Hi everyone,
As you all know property prices in Karachi and indeed in the whole country rose ten times since 2003-2006. A property worth one crore before 2003 was available for about ten crore by 2006. From 2007 the downturn began in property prices but they did not get back to the price levels which were before 2003. A property available for ten crores fell to about seven crores at the most. However, the decline continues though very slow. The reasons may be the international financial crisis and the Dubai crisis. Looking ahead it seems that may be the global economic crises may ease in 2010 and we may see a rebound in property prices though modest. What do you think about the next year? Do you see the property prices rise a little or significant in the next year or do you see the property prices fall further in 2010? Would we see the property prices fall to pre 2003 levels in future or there is some promise in the property market yet? Post your thoughts.