Is it right time to invest in real estate?

KARACHI - Most of the real estate dealers are claiming that it was the right time to make investment in the property as the prices are on the lowest and affordable side and there are strong chances of upsurge in prices at the end of this calendar year.

The real estate dealers said that the political situation is expected to improve in next two to three months that would encourage investment in this sector, leading to improvement in prices.

They said that at present the stock market was facing the worst recession and the best way to make investment was the real estate sector.

Yunus Rizvi, representative of United Defence Clifton State Agents said that the people who were making investment in Dubai and Malaysia might lose the chance of earning a handsome profit expected from investment in real estate in Pakistan in coming months.

He pointed out that the UAE based mega real estate entities, Emaar, Alghurair Giga, Creek Land and Damac Property had undertaken real estate development projects in Pakistan as they expect boom in this business in the years ahead.

These companies make planning on the basis of their 10 to 20 years assessment and their hectic involvement was a strong evidence of improvement in real estate business and prices, he added.