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Trading of open plots in Defence specifically in Phase VIII is on full swing and market witnessed 5 to 30 % more Rise in the prices since July 2012. Market has already gained 10 to 40% in first two quarter of this year. Following are the reasons behind this move.
- Worst law & order situation in other part of City.
- Overseas Pakistani’s investment.
- Decreasing interest rates.
- Secure Investment opportunity. (Crystal Clear Documents Process in Defence)
- Migration from Interior Sindh.
- Technical support (Bullish trend)
In this quarter specially Eid Season many overseas Pakistani visit their home town and usually invested in property, this is also one of the reason behind this move. Very importantly the technical side market is in the phase of bigger move which started in January 2011. This moves started after a long span (of almost 6 years) of bearish market trend.
Real Estate moves always like this and according to last three decade history, market will continue this trend, and make life time high prices in all the phases of Defence by the end of this year. Still many areas touches highest prices ever.
Note: This article is written by Mr. Muhammad Shafi Jakvani, CEO – Citi Associates. Kindly note that this technical study is based on personal research and forecast for the future, and there is no guarantee of market move. Market could move in any direction and with any changes in prices.