Plunge in property prices nearing end 3 Oct 2016

[Salman]

Plunge in property prices nearing end
LAHORE:
It seems the fall in property prices is coming to an end.

After registering a massive decrease in July – the month when the government’s newly-introduced tax measures came into force – data for August revealed that major housing societies saw little change in prices.

The recently-imposed tax on the real estate market had a negative impact on overall market activity and brought transactions, especially those of societies that are currently being developed, to a halt. Prices plunged and investors sought shelter from the government’s revised property valuation rates.

Despite host of measures, tax filers increase by just 10,745

However, in August, the top three markets of the country remained stagnant with slight dips in the price of a few housing societies.

While property buyers and sellers now have to pay higher amount of taxes on property transactions, the highest amount that a tax-filing buyer will have to pay in Pakistan is still less than the 4% tax he would have to pay for a property transaction in Dubai.

In Lahore, Islamabad, and Karachi, the property markets did not register any significant fluctuations after the new tax regime was introduced. The prices stayed steady in August.

Lahore

Statistics released by an online property portal, suggested that despite significant lack of investment activity, prices in Lahore remained stable for the most part in August 2016.

DHA Lahore, which is the most popular investment option in the city, registered steady numbers for all plot categories during August, while no steep drops in prices were noted.

Bahria Orchard also bore the impact of the new taxes quite well; both 10-marla and 1-kanal plots showed insignificant price drops of 0.02% and 0.23%, respectively.

An increase of 0.55% was recorded for 1-kanal plots in Bahria Town, while a negligible drop of 0.52% was observed in the 10-marla plot category. LDA Avenue One registered steady prices for the most part while Wapda Town showed a controlled drop in values.

Islamabad

Islamabad’s realty sector also showed stability during August 2016.

In various localities, negligible dips were seen in property prices, but no major fluctuations were observed. DHA Islamabad remained an area of special interest for both local and overseas investors and registered stable numbers, with a mere 0.66% increase in the value of 1-kanal plots.

In Bahria Town, price drops of 0.15% and 1.33% were observed in the 10-marla and 1-kanal plots categories, respectively. Meanwhile, Sector F-11 and Sector E-11 clung on to mere stability during August 2016.

Karachi

Data shows that property prices in DHA Karachi remained stagnant; an increase of 0.52% was registered for 250-square yard plots while a decrease of 0.41% was seen for 500-square yard plots.

Real estate market: Karachi, Lahore show impressive growth in first half

DCK, whose performance has been remarkable since its launch, registered controlled drops in property values during the month. BTK and Gulshane Iqbal, on the other hand, posted slight increases in the values of 500 square yard and 250 square yard plots.

In spite of the legal issues that occasionally affect sale-purchase activity in BTK and the imposition of increased taxes, prices in the locality continued to look up, as the value of 250 square yard plots in the locality increased 1.15% during August 2016.

Published in The Express Tribune, October 2nd, 2016.


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*Above news and data confirming my point of view from last week*
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Biana dealers/players once again active again in market now
All Lahore Real Estate clients are informed who trust us dearly are informed to finish their buying before nnd of Muharram. A small correction that was started in May 2016 will be ending in max 2 months.

If any one have missed my words in recent week I will type them once again.

Lahore Real Estate future 3 to 4 year boom have just started last year and insha Allah likely to continue after Muharram. It is not the end it is just the beginning of very good times ahead due to massive 400 billions Rs infrastructure improvements in Lahore. Lahore airport expansion in DHA area is starting any day now. Work on Berkki road expansion started already and Bedian road got 5 billion in this budget too so work could start there. Biana players / Dealers/ Short term investors active again mainly due to Lahore Ring road work now getting visible in DHA and Lake city areas. Also war tension over and Imran Khan threat of toppling PMLN going away more and more each passing day. About taxes ? 90% people have forgotten them already as we have a very short memory to forget injustices People forgot on live TV murders by Govt and these were just few property taxes


We saw very good transfers numbers in DHA head office today and calls volume today ( Monday in Pakistan ). Almost 300% increase in buyers call volume from 30 days average. We are now getting offers from dealers for plots in Prism Lake City DHA Rahbar and DHA8. LRE even sold 2 commercials Monday that are normally high ticket items and hard to find buyers in slow times. Mostly offers are from dealers that looking for Baina plots to have a healthy gains from recovery expected to start after Muharram a historically slow month for property dealers. After Muharan to March 2017 will be best time to sell at more gains if you are a seller.

Best buy are DHA Multan, DHA Gujranwala, DHA Bahwalpur only land full paid files and installment dont make sense due to very low land files price, Lake City 5 and 7 marla installment files , Prism mostly one kanal and possible 5 marla and kanal near Lahore Ring Road and DHA town plots with R Prism plots that will be close to underpass on Badian road ( Will open in Mar 2017) . DHA 10 files, Grand Avenue possession plots, Central Park possession plots. Lake City and DHA Rahbar commercial files. DHA town commercial files. Ivy Green commercial files. DHA 8 X T S blocks. DHA7 Z1 S R T U blocks.


I am slowly uploading development update pictures/ videos of Lahore Ring Road development, DHA Multan, Grand Avenue Central Park, Bahria F sector , DHA8 and Prism etc.

Disclaimer: My words may be little harsh but needed to make few points crystal clear. I am not a salaried person that writes only rosy articles about highly risky schemes to earn each months salary or to get few follower. All above projections are my own guesswork based on information collected from 85000 friends like you that are in touch with me from past 13 years and from dealers in market as I am connected to 10000 plus dealers in LRE dealer network and my 13 years actual buying selling experience. I only try to share everything I know to bring you equal footing to any real estate agent in Lahore. I dont have gun on any persons forehead to buy any thing or sell any thing. Wont share profit or loss and most people dont buy sell anything from LRE only. Please do your own research too and only buy if 100% comfortable in buying or selling.

Choudry Mujahid Yasin ( CMY )
+923224929992 ( WhastApp preferred and direct messages to this number now) and regular SMS and calls to + ( WhastApp Got Blocked on this number)