Property prices are so damn high here. I’ve surveyed and nearly 50 percent of houses are empty in G-13/14/15 etc. Same inferior design by builders and poor construction and they remain on the sale list for months. I don’t know why the prices are not coming down when there is clearly more supply than demand. I think sellers here want 200 percent profit on everything.
I agree with sheeraz. Ok islamabad is a good city to live in but not everyone will be moving to islamabad. There are to many schemes being launched day by day while existing are still not utilized. It seems this has all pumped up by property agents and same plot is being advertised again and again without actual selling.
Thanks god now people are realizing that prices of property is pumped up by very very very strong mafia of dealers and also cda is also invovle in this game
Those who keeping properties to sell later with high profits is like "zakhira indoozi" for keeping items to be sold with high margins or high "sins"
And not letting needy people to get their homes in time and less money.
Investors should invest money in business to create more jobs its not only govt; responsilbility to create jobs.
Thanks for all your comments. Yes abnormally high property prices are keeping genuine buyers like me off who want to buy a good house and live there. You cannot even find a good 25*50 house in zone 1 for 10 million rupees, which is quite a high sum. 25*40 houses in g-13 with poor builder construction are available above this benchmark. Go figure the rates of houses on bigger plots. Too much profiteering when the market has few buyers to begin with. And many of these houses are empty but still no fall in prices.
Sheeraz we usually say there is damn inflation in the country but the fact is we all here in pakistan do one thing and this is the higher margin of profitability.. The one selling house thinks he is going to have extra ordinary profit on the thing he keeps but when he wants to buy another product the very next person comes with the same thinking, we don't have actually any check and balance through which the prices can be controlled or unfortunately if we have than those are the dummies of money act accordingly to the one who buys them. I don't think that the prices are getting down sooner or later, so ultimately the only answer comes to mind is go with the flow... :)
Prices are sure come down if you do not go with the flow. And yes i dont want to go with flow
Property business is so profitable and these property dealers and investors earning so much money from genuine and innocent simple buyers that from this money they are taking active part in election. Take a look at article in dawn news paper Http://dawn.Com/2013/04/28/islamabads-sons-of-the-soil/ In islamabad, local politics is about the ability to buy or sell property and that is why the main parties have chosen candidates who have prospered in real estate. So it is the duty of genuine buyers not to take part in flow
Prices of real estate will not come down - unless (allah na karay - god forbid) there is any new massive and huge problem for pakistan for example war or other nation-wide issue etc.
As things are going at the moment, prices of real estate will keep rising and they will rise even higher after elections.
However, in the long run, if there is a strong government which brings big improvement in economic conditions and solves the energy and electricity crises, then the real estate prices will slow down (but will still keep rising slowly) and investment money will then come out of property and try to find its way into the stock market and in business ventures.
@helohi i want to ask you a simple thing how come you can live isolated?
Prices will come down is your claim
And as @pk1 said there is like hope in traces that prices will slow, i said slow not decrease you are living here in pakistan all you can do is live isolated or go with the flow.. Sorry but i don't want to be rude brother, you have to face the fact.
Face the fact or have enough power to change the fact.
The reason for the high prices in mainly due to high land prices. This is due to cda not being able to develop enough land in zone 1 to satisfy the need. If a plot of 25x40 is selling for in excess of 50 lacs in g13, and on top you have soaring labour costs and building costs over the last few years plus the developer will also need to make a little profit for having spent about 6 months on the project. Therefore prices for houses are not unreasonable but land prices are very high due to not sufficient land being made available for housing in highly sought areas like zone 1.
Cda means corruption development authority
I believe islamabad realesate is a victim of inflation and has no other option but to come down. The prices have increased for one big reason and that is the huge influx of kpk and karachi people migrating to islamabad for a better living. With the end of war in afghanistan and hopefully the new pro pakistan party whichever that might be kpk and karachi will inshaallah see stability, at which point there will be huge surplus of land and no buyers.