After the election of PMLN the market has gone bonkers, the cost of land which used to be around 50,60 lacs 3-4 years back has almost doubled. According to the property dealers this is due to the relocation of people from KPK, Karachi and other troubled spots to Lahore. Is it due to this or property mafia at work?
Re: Property market of Lahore
After the election of PMLN the market has gone bonkers, the cost of land which used to be around 50,60 lacs 3-4 years back has almost doubled. According to the property dealers this is due to the relocation of people from KPK, Karachi and other troubled spots to Lahore. Is it due to this or property mafia at work?
Isnt it because of plain old inflation? Lets not forget the $11+ billion in liabilities that PML-N has taken over since coming to power. Month of July recorded a 25% inflation hike. Looking at prices of daily commodities in Pakistan (Lahore to be specific), prices in many cases are higher than those in the UAE, even for locally produced items. Property prices have recorded a similar hike, in many cases, easily doubling prices of houses or land, regardless of location.
I dont see any major influx of people from other provinces. A lot of it is due to inflation, and of course the mafia is doing its job as well.
Re: Property market of Lahore
Isnt it because of plain old inflation? Lets not forget the $11+ billion in liabilities that PML-N has taken over since coming to power. Month of July recorded a 25% inflation hike. Looking at prices of daily commodities in Pakistan (Lahore to be specific), prices in many cases are higher than those in the UAE, even for locally produced items. Property prices have recorded a similar hike, in many cases, easily doubling prices of houses or land, regardless of location. I dont see any major influx of people from other provinces. A lot of it is due to inflation, and of course the mafia is doing its job as well.
This could be one reason as inflation increased manifolds during the past 3-4 months. Property prices are going diabolical at the moment, I know some one who has bought a house which has gone up by 5 lacs within a week. Some houses in DHA are selling for around 8 crores (over $ 800000) for 2 kanals which is a high price even in the Western countries.
Re: Property market of Lahore
8 crores lol
Inflation is at its peak in whole of Pakistan
We are screwed by Ganjas if anybody is still supporting them they live in a fool's paradise
Soon inflation will rise even more
Re: Property market of Lahore
Its Inflation and forced depreciation of Pakistan Rupee by the government! If you value the property in USD or other non Pakistani currencies you will find it rather less steep!