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| Real Estate Karachi, Pakistan |
Real
estate business in Pakistan has always been
under discussion and debatable from various aspects. Because Karachi and Lahore
are the main cities in this regard both these cities also become a part of that
discussion. Specially is case of Karachi
property business most of the people have been lucky in the past few
years, but if we go back and read about the history of Real Estate Karachi some have even lost all their life’s saving in
the Karachi Real Estate Business,
the question is how and why? Well, we at Rightdeed.cm are always striving to
bring you not only the latest news and updates about the real estate business
but also precious piece of advice based on the opinion of our expert’s panel
which can be easily named as a Real Estate Think-tank.
Before discussing whether it is feasible or
not to invest in Karachi Real Estate
business, we would have to discuss some facts and figures and also, a brief
view of all that happened in the Past 15 years in Real Estate Karachi of Pakistan.
For those who are new in that field, there
is nothing to worry about, as it is no more a rocket science, real estate
business is also as simple as any other sector. The basic rule which apply on all
sorts of businesses is Demand and Supply; it applies on the real estate sector as
well. Whenever demand of real estate is high and supply is low, prices go up. In
the same manner when the demand of property is low and supply is high price have
to face an ultimate fall.
As a matter of fact, the people who suffered
in the Real Estate Karachi business
during the last few years were those who did not have any idea of this basic
demand and supply rule. They either bought property right before the rates were
going to rise or during a sudden fall suffered great loss. Or they could not
judge the political flow of Karachi which keeps on changing from time to time.
Whatever the case may be, one has to ponder a lot while working in the Karachi property business market. When
you are into property, no matter it is Real
Estate Karachi or Real Estate Lahore
you would have to know the basic facts when demand gets high and how it gets
low otherwise you will have to face the consequences.
For an impartial view about the Karachi Real Estate, we would have to take a deep look upon the history of
Karachi property industry which
will make it quite easy for you to decide when to invest and when not to take
the risk.
Why Karachi Real Estate Faced a Crash in Early 2000?
In fact, it was a very hard time for the Karachi Real Estate
business as. Though it was not specific for the Karachi property market, as it crashed in whole of the country. The
upheaval in the political environment of Karachi was one of the main reasons behind
it. Due to the terrorism mixed political scenario played a great role and it
was why the Karachi Real Estate crashed in that specific
era which obviously had an everlasting impact upon the upcoming days of Real Estate Karachi business.
Other reason behind this was that due to the
unfortunate incident of 9/11 most of the overseas Pakistanis especially who
lived in the European and United States of America had to face a great deal of
disturbance and migration. As they had to come back to Pakistan and bought houses
in DHA Karachi, houses
in DHA Lahore and houses in
DHA Islamabad, the demand suddenly went high and the prices went up. It
was a kind of artificial rise as when the conditions got stable, people again
started to settle in their respective countries.
After that the Real Estate business faced a
remarkable bloom in the 2016. Though the real estate business had some booms
before that era too, but these were not so much noticeable as compared to the
bloom in the 2016.
Most affected areas due to this bloom if
talking about the Karachi Real Estate market were as follows:
Luxury real estate sector comprising of prices
of properties over 2 Crore or more were highly affected by this boom in 2017.
As an after math still effects are predicted in in the coming days by various
real estate experts. To be simpler and more precise, price fall was observed
more than 20% after the artificial rise in Karachi
property prices. And obviously the most affected was the high price
real estate sector. Similarly, the less affected area of investment was the 5
and 3 Marla properties sector.
How to deal with it
The core purpose of that article is to guide
you in such a manner that if such case happens again, you may not suffer by
acting upon our advice. As an investor, no matter you are a new one or a
seasoned one, you should always act like an opportunist. For that you will have
to look upon the positive side of the picture rather than the gloomy one. For example,
now property prices are lower as compared to the past, so it is the best time
to invest and seek new investment destinations like Gwadar, Bahria
Town and DHA
Karachi. However, do not expect miracles overnight, this is a very
tricky game and you will have to wait for the proper time before you get some
really sweet fruit.
We would wait for your precious piece of
mind in the comment’s section below.
Stay tuned with Pakistan’s best real estate blog.
And your feedback at support@rightdeed.com
.
Every successful, strong, and thriving country is based on its taxes system. To stabilize your country’s economy, you should pay your taxes on time. Most business tycoons and rich people firstly build up their properties and companies, and when it comes to paying your tax. They just went to other countries. That is where Pakistan is facing deficiency and not becoming prominent as it deserves to be.
ReplyDeleteAre you paying your tax?
Being a responsible citizen, paying your property tax in Pakistan should be your priority. It will work as your contribution to raising your economy and development of Pakistan. Hiding your property in order not to pay their taxes is considered to be a crime by law.