They’re on fire in karachi. Recently visited karachi and was amazed at the sky high rates for land/property. A 500 sqyd pc of land in DHA 2 yrs back was 12 laks and now that same land value is 35 to 40 laks.
Whats so amazing is that 2+yrs back I was in Pak and the real estate agents were going out of business because property values had dropped by 40 to 55 percent.
I would stay away from investing in properties in karachi since its a very short term market. For long term investments I would wait atleast 2 to 3 yrs.
yes a lot of money was poured after Pakistanis went back in 2-3 years and invested in property.. its a cyclic phenomenon.. it will come down a bit after the clever guys start investing in some other thing.. alas we only follow and lose money all the time.. getting in rt time and getting out in the same is key to better investing..
I read an article in a pakistani paper a couple of week ago. I cannot find a link for it (sorry). In the article the author was suggesting that this time the property prices will keep on rising for a few years yet. The main reason for it is that there is a lot of money coming into Pakistan from pakis-abroad and that they are all investing in property as there is no other form of investment in Pakistan! I am thinking of buying a plot in Islamabad too!! plots in Rwp that were worth 5 lacs 3 yrs ago are now worth 25 lacs !!