November 2013 was too dull even the last month’s given price further dropped down in the start of November. Till 18th of November, the market was bearish and prices were almost at the bottom. 200 Square Yards (Civilian) minimum price touched at 13 to 14 Lacs ON money.
From 19th November onwards, prices started increasing and it looked like that somebody wants to increase these prices artificially and prices were increased very rapidly. Within 12 days till 30th November prices touched for the same plot around 23 to 24 Lacs ON money. That means a 10 Lacs increase within 12 days, which is not normal at all.
On 30th November, DHA City Karachi (DCK) administration also invited Real Estate Agents of Defence and Clifton for a site visit. People were so much positive about this event and it looked like that huge buying will take place in the market but actually it didn’t happened.
Because of this rapid move every seller increased their demand and actually not many transaction have been made. During the site visit of DCK, no major announcement was made and it was a routine visit. Besides all these, the development work on the site is continuously going on, and again this is very positive sign. Brig (R) Rafique (Project Director) again said that there will be no Red, Yellow or Green Zones as mentioned previously. All the Sectors will be developed under the same timeline by 2020 which was already announced in the previous visit held in May 2013.
If you are looking to buy or sell plots in DHA City Karachi,
then contact CITI Associates at 0300-8299101 / 0321-8793654 or email at email@example.com
After all this movements, at the start of December 2013 market is coming down again and in this current week market looked so dull again. Though few transactions have been made on higher price and because of this fast move many new buyers bought plots at higher price, which is not good.
This kind of artificial moves shakes the confidence of buyers and investors. Further, we all should discourage this kind of practices. As we all witnessed that in the month of September 2013 market was so volatile and price were increasing very fast because of that market crashed which already indicated in the forecast in September prices. Whenever market becomes volatile, it can’t take stand and ultimately will go down.
According to my personal analysis, when the prices touched it’s lower level it was a very good time for buying and if this artificial move was not made, market could sustain and many buyers took interest in buying. That lower price came after almost 2.5 months and prices came down to around 45 to 50% from its top price.
As it was also forecasted in last months update, the price will came down more by 5 to 10% and then it will be at buying level. In any market if the price came that much down it creates buying sentiments. But unfortunately that level could not stand and jumped promptly. So again market will be uncertain and take some more time to settle the prices again.
Because of all these factors it looks like that market will be in the wait and see strategy and may it will remain the same for a month or two. One very important factor is still the announcement of Bahria Town Karachi Location & Payment Details, which is yet to disclose.
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ON Money (December 2013)
After witnessing the seesaw and diversion of investors from DCK to BT and from BT to DCK, It looks like that market is in the phase of wait & see.
For new investors, it will be a good time to invest when the market will come back again to the previous levels where it touched last month or a little bit higher than those levels. Besides all these the development work on the site is continuously going on, and again this is very positive sign. DCK has very good potential because it is the first ever Planned, Sustainable and Green City of Pakistan.
These prices are provided by Mr. Muhammad Shafi Jakvani, CEO – Citi Associates. Above mention prices are subject to change any time according to their demand and supply and (ON Money) price can be change either side in the open market, depend on the volatility of the market. And there is no guarantee of any kind of price variation.
Note: Mostly files traded in the size of 200, 300 and 500 square yards. It does not mean that other categories are not available, but normally these sizes are traded and are available for sale and people are ready to buy files of these sizes. Other large plot may be allotted in balloting but not available frequently in the market.