Decline in Land Value and Migration to foreign states

Decline in Land Value and Migration to foreign states

Due to recession, property slump and terrorism 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 routes, 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.

If this trend continues Pakistan will face another issue of liquidity crisis because the sellers will increase and the buyers will be minimal. This will lower the price of property that will force people to withdraw their investments from land. People will
shift to other states as they are and Pakistan will be left with just poor population that will be hazardous for this country’s fate.

Short URL: https://www.newspakistan.pk/?p=7560

Posted by Fahad Zafar on Dec 28 2011. Filed under Opinion, Pakistan. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry