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Tuesday, September 28, 2010

QUOTES THAT AFFECT REAL ESTATE INVESTMENT

There is a saying that I love and live by “friends don’t need excuses and enemies really don’t care”. This is very true for the property world or the real estate industry Of Pakistan. If one looks at most of the cases within the penal system or that are in the courts for civil litigation then one would easily be able to understand that our legal system is either tied up in too much paperwork for fraudulent property files and disputes over succession rights or people trying to prove that their version of reality is true for the marital issues running around in all social circles of society…

There is also a saying that “one can make a choice investment in property and build upon it with the way that property rates appreciate”. This one however is not true as due to the current situation and the juggling of the not so legal disorder that us Pakistanis have had to brutally be a witness to. So this leaves me with my third quote which is very true. “man is a strange creature – he cuts down trees to harvest them for paper – on which he writes recycle paper and don’t cut trees”.

Further to add to this one must realize that whilst the world of the seven deadly sins plagues us in the form of who and what to trust property is no longer something that one can buy with their eyes closed. People now are viciously averse to trusting a property dealer and prefer to buy something from some they trust and know they can depend upon. I have watched many companies in Pakistan struggle to sell their dream to people here in Pakistan and after the hack con job of getting seed money for the promised investment the sales person on behalf of the developer becomes a recovery agent.

To add to this one must look at history because all the wars and battles right up to the current situation in Afghanistan is being fought over land rights. Be it in acres or if the plot in question is a tiny piece of insignificant area if it has any value in any form there will always be someone who has an evil eye on it which will lead to a dispute… If one needs to establish how lifestyles have changed then one needs to focus upon Karachi. Most residents of Karachi are under the illusion that where ever they live in their little world be it an apartment or an independent unit they are happy as long as that bit of land has been handed down over the decades. This is because they know that what happened up until the late eighties can and will not be questioned in a court of law.

To spin off into a tangent did you know that if you shoot a man dead within the confines of your home. You can almost never get arrested if you claim self-defense and use our property laws in effect to trespassing. Yes Pakistan’s legal system has many loop holes and if you can prove that the person who is dead has trespassed onto your residential property which you are the current owner and occupant of then you can almost get away Scott three quashing the dafa number 302.

Also the property world has changed and whilst companies are now trying – like DHA / NHA etc to promote the concept of community living either in a stack formation by selling apartments or houses in cluster formations very few have been successful. Community living is not something new rather it promotes that aspect of citizens living in a community where they have a support system in the form of being good neighbors. If you would like to establish a good place to live then today you have many choices. We suggest that whilst the world is brutally dishonest one look at the history and the reality behind what one buys… before a person can delve any further into trying a piece of property as an investment it is strongly recommended that investors look at the history behind the developer and the management company in question.

Pakistan is a beautiful place and no matter where you live you should always make a decision that will not be emotional at all. If you are an investor this is probably the right time to seek the advice of a professional establishment before you decide to invest in a home. Today with inflation vs the savings you do it is extremely difficult to build a home let alone buy a property… If you need advice then there are those people who could help you build that dream into a reality and will earn your trust. So yes there is a silver lining at the end of the dark cloud… ask e and ill tell you where to go… you would laugh at me but I assure you that we will giggle together when you see a solid investment that will pay you back!

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