recession, property decline, and terrorism in Pakistan
Due to recession, property decline, and terrorism in Pakistan, productive and professional people are rapidly immigrating to advanced social welfare countries such as Canada, Arab countries, Britain, the USA, and many European countries. Countries like Canada are considered heaven in Pakistan. This migration is taking place due to the law and order situation, lack of security, and electric load shed in Pakistan.
According to many real estate agent comments, I learned that buying property sales is at a minimum level these days. In one of my real estate surveys that I conducted across Lahore, I found that people have set their asking prices for their properties, but there are very few sellers. People are not ready to take risks. People are avoiding any investment due to the downturn and unfortunate security situation in Pakistan. These days, I am looking for any cheap home for our family home. I cannot find any right home because people are not ready to sell their property at lower prices. Despite this decline in property, people are waiting for a good time in the future where they may get higher prices for their property.
However, by analyzing the situation in Pakistan, one can easily deduce that such a time would not come soon. However, needy people, business shoppers, immigration, and migration seekers are selling their property at lower prices.
Further, many routes in Lahore are closed due to the construction of bridges and roads. In the absence of alternative ways, constructions of these bridges and roads have doubled the distance to the central locations of Lahore. These roadblocks have caused people to switch to other places by selling their properties at lower prices.