Current nose dive devaluation in Pak Rupee

Buying Property General Advice
#1

I am a professional working in Saudi Arabia since last 2 years. Alhamdulilah have been able to manage a little saving of around Rs 50+ lac so far. I visited Pakistan start of 2012 with some amount which is less than what is now i have. Wasn't sure where to invest that, and i put it in Rs saving account as few people told me to stay away from Pakistan real estate... Now time has proven me wrong for my decision to keep saving in Pakistan rupees account, as it is devalued quickly since last 12 months.

I will visit Pakistan again in a couple of months or so, needs a very very brotherly and honest advice from experts on this forum to guide where to put my only harvest which should be consistent in terms of growth and safest from any devaluation or fraud etc? One thing to mention that don't have any near future (like 3 to 4 years) plans to settle back in Pakistan.

Please give advice considering yourself in my situation.

#2

Invest partly in B-17 Islamabad and partly in PECHS Islamabad.

#3

Where is PECHS? And what are the prospects of investment returns for those two schemes? Actually I am little new for real estate thing, esp for Islamabad as i am a resident of Lahore. I have seen many times on this forum experts wrote in favor of B-17… What are the property rates there i.e. Historically & to date? Can anybody give me a brief perspective on this?

#4

PECHS is near new Islamabad airport on Fateh Jang road. B-17 has different rates for same size of plots depending on block. A, b and c blocks of b-17 are developed. Block b is most expensive with one kanal plot costing about 5.5 million… C block one kanal is between 3.6 and 4.4 depending on location.

#5

Thanks! And can you let me know that what are growth rate (avge %) in B-17? Say for the last three years i.e. From 2009 end to 2012 end?

#6

The growth rate in the last one and a half years is more than healthy. Zameen management has done an article on this discussing the trend in B-17. You will have to look for it - it is on one of the links - I don’t recall which one.

#7

Couldn’t find that article. Thanks anyways.

#8

Keep your saving in US$ bank a/c for now … Wait and see what happens in 2013… In 2013 we will know if the govt. Goes for IMF… And the dollar crosses 100+ etc. Then think of investment … In near future US$ looks the best compared to Rs savings and Pakistani real estate

#9

Here's the report.

B-17 Islamabad.

#10

Thanks Nafees! But the blog is blocked here in my office! :frowning:

#11

You’re welcome! You can take a look at it from home then. :slight_smile:

#12

O khalid!

You seem to have the correct approach.

Thankyou.

#13

O Khalid,

You seem to have the correct approach. Is there a way to convert a large pak rupees bank acc to US$ bank acc without drawing the cash in your hands (I mean from safety point of view), and if there is so then I think the banks will give you really bad rate of exchange...

Thanks!

#14

The rate at which the rupee is falling against the dollar is not the same as the rate of property increase in good investment areas especially Islamabad. If over the last 3-year period, you compare the graphs of dollar appreciation and property appreciation in specific zone i and zone ii sectors of Islamabad, you will notice that property beats dollar.

In fact, even if the Pak rupee slides against the dollar due to devaluation, you must not forget that the dollar itself is also losing its purchasing power due to inflation and economic difficulties in the us.

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