Real Estate Slump In Lahore Pakistan-Property Sale Purchase Has Stopped
Due to slump and terrorism people are not investing their money in real estate in Lahore. Few property dealers told me that no sale purchase is taking places for last six months. Property sale purchase is badly affected due to terrorism attacks in Lahore and current law enforcing agencies operation in Swat and adjacent areas. Once I listed my plot for sale on Dubai property website. One dealer joked that there is one bomb attached to each plot in Pakistan. I told him that law and order situation is not as bad but at least it shows bad impression of law and order situation in Pakistan.
In one of my property survey which I conducted across Lahore I found that people have set their own wishful prices for their properties but there are very few sellers. Selling is taking place only in those area and schemes where investment is considered very safe. People are not ready to take risks. People are avoiding any types of investment due to slump and poor safety situation in Pakistan.
There is set increase of price in the areas of Lahore where construction of famous ring road is taking place. However constructions of ring road will take more than two years. Further many routes in Lahore are closed due to constructions of bridges and roads. These blockages of routes have caused people to shift to other places by selling their properties at lower rates.
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