Real Estate News
Many pleasantly surprised as Lahore real estate becomes the best performer
February 7, 2012 | Author Mark
2011 has generally been a horrible year for Pakistan homes industry where builders and developers had to suffer heavy losses because of little or no market activity and business. On the bright side however, Lahore’s realty market went on to become the best performer. While it comes as no surprise for the local residents of the city, many experts have been surprised to see Lahore’s rising status as one of the most expensive Pakistani cities in terms of its real estate. One of the basic factors behind Lahore’s increasing popularity as the city of choice to live in for people is the security the city offers.
According to Munir Sultan, the current chairman of Federation of Pakistan Chambers of Commerce and Industry Standing Committee on Real Estate, it’s a global phenomenon according to which, the coastal cities boast a realty market that beats the rest but in Pakistan, Lahore real estate takes the cake for being one of the most desired cities to live in. Karachi is a city which has long since lost its charm for people. The biggest city of Pakistan, despite boasting a coastal front and its proximity to the ocean has failed to present a promising home for the people who continue to flock other safer cities such as Lahore.
One person’s curse is another’s blessing. Same is the case with the realty market where Lahore got most of the Pakistan homes built during 2011 which, in other words, means that more people opted to live in Lahore than they did in Karachi. Karachi which once was a city that embraced everyone with open arms has grown to be more and more hostile to its residents over the year. Lahore real estate has been an unsuspecting beneficiary of Karachi’s abysmal realty market and has offered people a peaceful alternative.
Plenty of reasons to buy a home
January 29, 2012 | Author Mark
Experts say that potential home buyers still have the feeling that prices will drop. And not only them. The latest economic bulletin of the Bank of Spain said that is expected to continue the fall in house prices.
Besides this feeling that has an important role in the purchase decision, interested in buying property have also been affected by the tightening of the conditions of the banks and the granting of a mortgage. Not surprisingly, the growth of mortgage credit was 0.1% on year, according to data from the Bank of Spain.
And this we must add that only credits are awarded for 100% of the purchase amount, which makes access to all those people who do not have the money to provide 30% (20% of the input plus 10 % forecast for expenditure) is not going to pay the bank.
‘STOCK’ HOUSING
The associations of developers and estate agents say that since last fall, there has been an improvement in housing statistics, sales have increased and multiplied visits promotions floors. One of the triggers for this increased interest may have been the announcement that in 2011 can no longer be tax deductible for the purchase of housing. In fact, there are few young people are willing to buy a house during this year just to benefit from this. In this regard it is noteworthy that the Minister of Housing, Beatriz Corredor, has been one of the institutional voices that has encouraged the purchase “before 2011″. For two reasons: first because later “will be fiscally costly,” and second because, in his view, prices “could bounce upward.”
However, both in the last newsletter of the Bank of Spain and the Instituto Juan de Mariana, reflects that some experts believe that housing in Spain is “overrated” so we would expect prices to continue falling in coming months.
Nor is it encouraging to know that buyers, even though dry has slowed housing construction, there are more homes that are completed they are sold. And this is something that will continue in the short term, because in the years of boom began many homes that are ending now, which would suggest that could continue the cheapening of housing developments due to excess Read the rest of this entry »
Posted in Housing, Real Estate News | 
Tags: home buyers, house, reasons to buy a home | 
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Finding the Right Apartments for Rent
January 21, 2012 | Author Mark
There are so many needs which are required to be fulfilled by the people. Each of them has the different kinds of needs that have to be fulfilled. However, the primary needs of the people are commonly the same such as the foods, houses, and clothes. The houses become one of the basic needs that we have to fulfill. It plays a very important thing for all people because it is the place for us that might save us from the bad things outside such as the bad weather, the wind, the cold, the sun light, and many others. It is also the plays to come back after we do various activities outside. That why we need a comfortable house, for example the New York Apartments for Rent. The apartments become one of the great choice that we can get in order to get the comfortable place to do any kinds of activities including taking a rest.
The function of the apartment is like the common houses. Of course, we will also get the comfortable facilities and environment there. However, we do not need to be worried in getting all of the great place and those great facilities caused by its high price because we can find the apartments for rent. We also can find Read the rest of this entry »
More than half a million families will lose their home between 2008 and 2015
January 13, 2012 | Author Mark
About 150,000 families have lost their homes due to inability to pay the economic crisis, but this could multiply in the coming years. according to a study of the association affected by foreclosures and auctions (AFES) in 2015, the number of families who have lost their homes will rise to the 510,000
AFES says that 150,000 families have already lost their home since the crisis began in 2008 and more than 135,000 others are in the process of foreclosure. also estimated that these must be added the 133,000 who can no longer keep paying the mortgage and another 100,000 who can not pay their dues in the next two years as a result of bleeding in unemployment
This drama also will invoice to the bank. by AFES, financial institutions on their balance sheets assume a loss of about 34,000 million in the next four years from mortgages to individuals, since each mortgage is executed 30% capital loss for the Read the rest of this entry »
Posted in Real Estate News | Tags: AFES, crisis, financial, foreclosures, home, unemployment | No Comments »