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.
Rich and professional people are quickly immigrating to advanced social welfare countries like Canada, Arab countries, UK, USA and many European countries. Countries like Canada are considered heaven in Pakistan. This migration is taking place due to law and order situation, lack of sense of security and electricity load-shedding in Pakistan.
According to many property dealers comments I learnt that property sale purchase is at minimum level these days. 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. People are not ready to take risks. People are avoiding any types of investment due to slump and poor safety situation in Pakistan. These days I am searching any cheap home for our family residence. I am unable to find any good home due to the fact that people are not ready to sell their property at lower prices. Despite this property slump, people are waiting for any good time in future where they may get higher prices for their property. However by analyzing situation in Pakistan one can easily infer that such time would not come in near future. However needy people, business changers, immigration and migration seekers are selling their property at lower prices.
Further many routes in Lahore are closed due to constructions of bridges and roads. In the absence of alternative routs, constructions of these bridges and roads have doubled the distance to central places of Lahore. These blockages of routes have caused people to shift to other places by selling their properties at lower rates.
In response to this articles I received a letter from a person. After proofreading, letter is provided as it was sent to me. "I do not agree with the first paragraph of your email. People are moving out of country for some other major reason then load shedding and even law and order issue come later. The main reasons for migration are to find a better job, getting higher education or money. Pakistan are producing more professional but not providing enough jobs. The job salary are also very low compare to the prices these days. The main charm to work outside the country is to make more money to take care of their families which is very hard in Pakistan these days. But regardless of the above the percentage of immigrants are very low compare to the Pakistani population and few numbers of people who are selling their properties and going out of country should not effect the country's economy or local market. Regarding Properties values, in the whole world the property values went up around 5 years ago and now they are coming back down. In USA prices already went down and its a good buyer market, in Dubai the storm just hit there and it will take time to be normal. In Pakistan the prices of the properties are going down gradually as there is less buyer and more house out there for sale."
My reply to this letter "At least you have acknowledged that people are migrating to foreign courtiers for better future. Please note that law and order situation, safety and economy are very important factors." Here I concede that basically people migrate to rich countries like UAE, Saudi Arabia, Canada, USA, Britain and European countries for earning money. Pakistani expatriates in these countries are taking ten times more salaries than they take in Pakistan. However there are many other reasons. Daily life stress and societal strifes are common in Pakistan. Many people told me that they left Pakistan because they were sick of bad system and frequent quarrels in Pakistan. There societal conflicts and poverty. General people earn money by having fights and fraud. There exist too many disputes in property issues.
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