Will this political instability resulting from PM Gillani's disqualification result in decrease in real estate prices?
Will the real estate prices become more and more depressed until elections?
I don’t think it will make any impact. He was an incompetent idiot anyway… in five years all he gave to the people was inflation, 20 hours of load shedding, and supported corruption on a scale that Pakistan had not seen before.
PPP can go on ‘sacrificing’ puppet PM after PM and the realty market won’t care two hoots.
I think so with in few days it market will get a better response as our ex pm was the most corrupt member of parliament hopefully it will not impact on real estate sector and this is a good sign for foreign investors that our judiciary is free and we can expect justice from them
I think the political instability that the disqualification has created will impact the confidence of overseas Pakistanis. Investment in Pakistan will take a break until next elections. Then people will see the results of the elections and decide whether to invest in Pakistan or not.
If the new government wins a simple majority i.e. 51% of the seats at the center with a reasonable performance in all of the provinces that will be an ideal climate for investment in Pakistan because that will ensure continuity of policies and ability to take decisions for 4-5 years.
This is why I wish Imran Khan, Nawaz Sharif and Jamaat Islami can do an election alliance. That will be very good for Pakistan. May be they can agree to give 2 years of PM ship to Imran Khan and 3 years to Mian saab. And they can give CM of Punjab to Shahbaz Sharif and mayor ship of Lahore and provincial ministries to PTI.
But if the next parliament is made up of groups with no clear winner, then instability will continue.
Well I am an overseas Pakistani and to tell you truth we don’t see any thing good coming out of Pakistan these days e.g Malik Raiz case, now PM case, load shedding, riots etc… so I see overseas Pakistanis not wanting to invest or even parking their money in Pakistani real estate in the near future. I think even the elections can not bring quick change. The situation Pakistan is now will take at least 3-4 years to come out a little bit.
OKhalid,
MashAllah, mashAllah, you are like a ball of negative energy. How do you manage to be so negative, brother? :)
Pk1, if they gave away the mayorship of Lahore to PTI, Lahore will be like Singapore and the rest of the country will be like, well, Pakistan. ;)
@Nafees :)
Well we have to be realistic even if we seem negative! as it's no use living in a fools paradise! ;)
OKhalid,
I agree things are not great but there is hope inshaAllah.
Let me give you an example. We had so many bombings in 2009, 2010 and even 2011. But look at the scene in 2012, it is better with regard to security. Only Karachi continues to suffer; but Karachi is such a resilient city and such an old commercial and port destination that it is impossible to kill their spirit. My tributes to Karachiites. And security situation gives confidence.
There are many positives too, and there will be more inshaAllah. It is on this assumption that I continue to invest most of my savings in Pakistan real estate properties. Many people, even my own brothers and sisters, tell me that it is not a smart move to invest all my money in Pakistan even though as a Gulf country resident I am earning in foreign exchange. However, I have no doubt at all that the the overall economic and law and order situation as well as property scene in Pakistan will improve so much that I will be glad that I made these investments.
InshAllah.
Dear Pk1,
I really appreciate your comment.
Very good answer, Pk1. You're like the voice of sanity all this negativity.
OKhalid,
Pk1 has given a beautiful answer and there is hardly any room for improvement. All I want to say is that you never give up hope. That's what you do as a Muslim. To give up hope is to lose faith.