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Upsurge in Islamabad Property Market |
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Wednesday, 21 January 2009 |
Amid the global recession there is still some good news for those who have already invested in Property in Islamabad or are planning to.
January 2009 has seen an increase in the number of properties being sold in all areas of Islamabad and this trend seems set to continue.
We have certainly had a much larger number of enquiries than in previous months and visitors are telling us that they are feeling more and more uncertain about leaving their assets abroad.
It seems that increasing numbers of Overseas Pakistanis have decided that now is a good time to invest here given the doom and gloom in the property markets worldwide. It may even be that they are moving their assets back to Pakistan to shield themselves from the recession as much as they can since Pakistan is not feeling it as much - perhaps because the credit crunch can't affect a country where credit is not the primary means of survival.
This has had a knock on effect on the local markets and investors who were reluctant to do too much buying or selling towards the end of last year have been encouraged to re enter the market with new projects on offer.
As the US Dollar and Pound Sterling are continuing to face difficulties in international forex markets, the trend of the previous year of converting assets into these currencies and placing them in offshore banks is seeing a decline and leaving money in the increasingly unstable banking sector seems risky according to some. In addition, property values in the west are facing serious downward pressure and the Middle East markets such as Dubai have seen prices CRASH an amazing 60% in many cases with further reductions predicted in the coming year.
Here in Islamabad, sales have risen - from small commercial units, and residential flats to houses and entire commercial buildings - new customers are entering the market everyday. Land, in and around Islamabad however appears to be sustaining the highest demand as clients hope to secure a piece upon which to build their dream-house or invest for the future as Islamabad continues to grow.
» 2 Comments
1Comment
at Sunday, 20 September 2009 17:13
Wishing a blessed Eid Mubarak to everyone, may Allah grant us peace, wisdom, prosperity and guidance and May He grant us forgiveness for our wrongdoings and acceptance of our prayers. Ameen
Please pray for Pakistan to become a peaceful and prosperous place that we can be proud of it's achievements in the coming year.
2Comment
at Monday, 02 November 2009 20:10
HI,
If market is so good in Islam abad then why cant' isell my plot in E12/4.
200 yards for 2.5 million a half price of 2005.
Terry
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Last Updated ( Friday, 25 September 2009 )
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