Re: Property mania in Pakistan..
Unless u need the cash immediately, I'd advise to leave the house in Rawalpindi as it is for at least six months to see the trend.
Re: Property mania in Pakistan..
Ahmed, let me know if and when you decide to sell it, i will try and match your best offer within reason. Give me some details on the exact location and size of plot and the construction and i will see if i can get a value for you.
Re: Property mania in Pakistan..
Point taken!
More than likely we will hold on to it for at least another year or so…
Re: Property mania in Pakistan..
Ashtray, I will dig up the exact plot size and house dimensions soon.
For starters, the house is located in the original Morgah Officers Colony near Attock Oil refinery, in Rawalpindi.
If you are a realtor in Pakistan, a listing or something similar is available to give you a clearer idea on what type of houses are built in this colony.
Re: Property mania in Pakistan..
There are no online appraisers or MLS listings here in Pakistan. You have to do your own research here. I would suggest going to real estate agents in the area and finding out how much they are selling comparable properties. Then, trying selling yours for that much.
regards,
bob
Re: Property mania in Pakistan..
Wish I was in Pakistan to check the prices out and stuff…
For now, the resourcefulness of the Internet will do.
Re: Property mania in Pakistan..
Try this link
http://www.pakestate.com/sellbuy/areas.asp
I havent seen any ads in Dawn or the News classifieds this past Sunday, for morgah officers colony. However, the above website lists some 500 yd plots in different morgah schemes for between Rs 15-25 lac, which is between US$25-45 thousand. I am not sure if your property is in these sectors. Hope it helps.
regards,
bob
Re: Property mania in Pakistan..
Bob,
Thank you for this information and the rupee/dollar conversion!
I was unable to browse the link above but the website itself seems very useful.
Will contact their Real Estate agent to see if they can give out some more details.
Jehanzeb.
Re: Property mania in Pakistan..
dude lake city in lahore has just been launched and its one of the best and most posh projects in the world, its like florida in lahore. i will be making a new topic on it soon,
Re: Property mania in Pakistan..
After the earthquake, prices of apartments in high rise buildings in Islamabad have fallen drastically. Those living in high rise apartments want to move to single family homes. Rentals for single family homes are up 30 to40 percent overnight after the earth quake. In addition, foreign aid organizations and their workers are adding pressure to the real estate market by moving into Islamabad.
regards,
bob
Re: Property mania in Pakistan..
prices in lahore have boomed after earthquake.
Re: Property mania in Pakistan..
the reason for the KSE crash was due to investors having very low understanding of how Sharemarket works. And neva eva invest all ur money into one company.. spread the risk.. further in pak.. there are big giants who can purchase 25-35% of shares in the company.. maybe thru insider trading (which is illegal in western countries).. and thus this can drive the prices souring of such company.. therefore making it very attractive.. bt soon as the prices hav reached to certain point.. boom.. the big giants sell thier shares.. taking away all the profits.. thus the poor buggers.. who hav no knowlege.. loose all their life savings..
the govt needs to implement more strict law.. and actually IMPLEMENt.. coz this will discourage people from investing.. they shud provide more information to a common man.. and need to stop people from inside the companies to share information.. which can create problems..
there is still a lot more work need to be done..
about house prices..
well wen we were in pak.. prices were goin up and up daily.. wat i see it as.. that currently.. the real estate brokers are selling among them selves.. which keeps the demand high... very few of these buyers are those who might actually build house in em.. so once some of those real estate brokers realise.. hmm i think i shd stop.. i cant afford.. ull see the real estate crash..
further.. u have many pak-americans and other nationals wantin to move bak to pak.. thus with em bringing millions of dollars.. and becuase the economy boom is goin high.. u goin to have the property go up..
but a common man in pakistan is purchasing one or two files.. bt they are not the main players.. bt a warning.. they shud be careful.. bt then.. property is one place.. where prices dropping is VERY VERY few chances.. NO MATTER WHERE IN THE WORLD YOU GO.. unless its a huge case..
Allah hafiz
Re: Property mania in Pakistan..
further saying.. i beleive that prices of houses will never drop.. bt prices of plots and lands can hava crash.. coz most people in that part are real estate brokers selling among them selves.
Re: Property mania in Pakistan..
Prices of high rise apartments in Islamabad are tumbling according to The News Oct 15, 2005. As many people try to move into single family dwellings, rents have gone up 30 to 40 percent according to a story in The News on Oct 13, 2005. I would think Aid agencies and their workers moving to Islamabad are also adding pressure to the rental market.
regards,
bob
Re: Property mania in Pakistan..
Anyone see the prices rise in Creek City, Karachi? They were so low 1-2 years ago, and now they have sky-rocketed.
Re: Property mania in Pakistan..
Wow. My Taaya lives there. I’ve been there many times. 
Re: Property mania in Pakistan..
creek city prices are the same as they were 2/3 years ago, theres no difference.
Re: Property mania in Pakistan..
I was told yesterday that prices in morgah and Defence Islamabad have almost halved from their highs since the quake. I dont belive it though.