Market speculation suddenly stopped in DHA KARACHI PAKISTAN.
Investors have started preparing for payments once again. Market is moving like musical chair game.
The market has reacted very positively after Chinese president visit, lowering of interest rates and crack down on dollar smuggling.
Pakistan’s foreign exchange reserves is over 15 billion USD, inflow of foreign remittances is steady,
Karachi stock market 100 index is between 33,500-34,000 point mark. Government has put 5.5 growth rate target.
The official collector rates of plots in phase 8 is very low as compared to phase 5 and 6, this also adds up to high trading activity in phase 8.
There is huge gap between market value and official collector rate of plots in DHA as is all properties in PAKISTAN), but at the same time phases other than phase 8 are all populated and well populated making it more secure and harmonious.
The market mood is in very aggressive upward mode specially in phase 8. Speculators are minting money specially in commercial plots of phase 8.
The growth rate in the neighboring countries like China and India is above 7%, Pakistan is trying to make improvement in that area against all odds. The near future outlook appears slow. Investors were waiting for upto 20 percent discount, but market rebounded due to recent positive developments by the government.
The black economy is contributing significantly in this sector , more and more funds are being parked in DHA PLOTS specially after dollar depreciated.. Just take the example of average 500 yds residential plot in D-CUTTING phase 8, back in January 2009 the price rupees 70 lacs now the price is rupees 4.0 – 3.60 cror ( rates of plots varies with streets & location) Sahil 300 yd plot is at rupees 2.5 cror sahil 500 yd around 3.35 cror cror. Defence streets phase 8, 3.10 cror cror , 2000 yds category residential plots in 3rd belt of phase 8, below 30th street are around 13 cror crores and prices above 20 street is upto to 16 crores.(approx)
The prices in phase 6 plots and and bungalows TOO HIGH , rates of apartments and shops are WAITING FOR CUSTOMERS. The sale of bungalows have slowed down. The 500 sq yd brand new house is now priced around 7.75 -6.75 cror, 1000 sq yds is priced around 13- 16 crors plus and 2000 sq yd is price around 30 crors plus for top quality and top location houses. Although there are lower priced houses according to their location and quality. If you are interested in buying creek vista apartment there. The price of four bedroom apartment is around 5.50 crors now. AS far as EMAAR project at cresent bay in phase 8 is concern , builder is progressing at slow pace and demanding 90 percent payment at the completion of structure ONLY, where as buyers are ready to pay 60 percent at completion of structure. If the project is able to deliver the product in announced time it will be the best project in whole DHA KARACHI PAKISTAN.