Gurus! With the recent crackdown against all the commercial activities and non conforming use of property in main old sectors (f-6, f-7, f-8, e-7) of islamabad will the prices come down? Recently all the guest houses also been ordered by islamabad high court to shut! Kindly guide one should wait or go ahead with the purchase in coming time will the prices will decline or going to increase (buying + rental) due to the foreigners moving to islamabad for cpec? Thanks
Prices have not been affected by the crackdown on commercial use of residences.
Yes prices haven’t come down but the real question to investors of these elite sectors is: How Long will they hold before they budge?
They will hold will not budge. It is the federal capital.
Prices are already down in these sectors and owners are facing trouble in selling their properties I myself know some property owners who are selling their properties for last 1.5 years but are not successful so far. I myself is a witness to a deal where a 1000 sqyds house in F-10 was sold for 13.90 crores and now the same house is available for 10 crores..Approximately 1 to 1.5 crores per kanal have declined in these sectors and mainly they are affected by the departure of embassies and ambassadors since they were the highest paying tenants in these sectors.
G sector being cheaper one in comparison is holding its value at the same level.
As far as your cpec question is concerned, it will not push demand of housing in the federal capital since Chinese are looking for a site themselves to have an housing arrangement as it is convenient for them to have accommodation near their projects.
Kashif sb, I personally don't see any drastic reduction in prices in those developed sectors. However, yes, I agree with Saadi, selling houses in those sectors is getting very difficult and yes there has been a slight decrease in prices due to very slow market all around.
Regards
Khan bhai market is surely down in these sectors and rates are 1 to 1.5 crores less from their peak value for a 1 kanal plot in E,F series. G sector is maintaining its value at the same level.