October 2013 was too dull, as market is bearish and continued coming down. Not many transactions witnessed. As mention earlier that the market is in the wait and see position, and normally whenever market took this type of move, it will take some time to settle down.
According to ON Money prices, market is almost further decreased by 10 to 15% and become overall down by 40%. Very thin volumes of transaction has been witnessed. Now at these price level not many sellers agree to sell and people would like to take chance and wait for positive news. Some needy seller made the market down and buyer take advantage of this. Overall, we can say is that it’s the buyer’s market right now and it looks like that it will continue like this till the year end.
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 firstname.lastname@example.org
Behind this fall there are many reasons, as mention earlier that that correction is due whenever this kind move happened in the market. In the correction period market went 10 to 15% down and become settled. Buyer are there in the market but currently market already came down 30 to 40% and there are not many buyers take interest in this type of market.
During the same period, Bahria Town announced their projects in Karachi and got a very good response. Just after the closing date of registration of clients, people are ready to buy those slips with ON Money amount, even without any confirmation of location of its project i.e. Bahria Town Karachi.
Very interesting thing is that these slips have no confirmation that you will get the Plot etc because it requires the balloting process. No body knows how many registrations has been done? What will be the balloting percentage? As we all know that in DCK Balloting which happened in 2009, at that time 40,000 applications were received and out of that only 20,000 applications were allotted the plots, it means 50% was the balloting result.
As we have the New Islamic Year starting, and in the month of Muharram, many business activities get slow down and normally people don’t take any major decisions, so the market will become more slow and dull.
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 till December 2013 or further drop down by 5 to 10%. About the prices I feel that the bottom is very close and now onwards market will not go down much more, if it will stand may it will slide little more but no major changes will happen.
You may also like to checkout:
- DHA City Karachi (DCK) Balloting Results List 2013
- Important Points of DHA City Karachi (DCK) Balloting Results 2013
- [Pictures] DHA City Karachi (DCK) Plot Numbers Balloting Ceremony on 23rd April, 2013
- DHA City Karachi (DCK) Latest Prices
- DHA City Karachi (DCK) – Complete Payment Schedule Guide
- 13 Immediate Action Plan Works at DHA City Karachi (DCK)
After witnessing this whole movement and the diversion of investors to Bahria Town, we all know that many people believe to just follow the trend and once anything new comes up, everyone want to enter in that. Because of all these factors, people should follow the wait and see practice and don’t be in panic. Do not float the plots in the market because of panic selling market will go down further.
For new investors, this could be the good time for buying at 40% lower rates, but should wait for two three weeks and after Aashura, we can see the market direction. 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.