Massive Migration to Foreign countries and Real estate Slump in Pakistan
Due to recession, property slump and terrorism in Pakistan, rich and professional people are quickly immigrating to advanced social welfare countries like Canada, Arab countries, UK, USA and many European countries. Countries like Canada are considered heaven in Pakistan. This migration is taking place due to law and order situation, lack of sense of security and electricity load-shedding in Pakistan.
According to many property dealers comments I learnt that property sale purchase is at minimum level these days.
In one of my property survey which I conducted across Lahore, I found that people have set their own wishful prices for their properties but there are very few sellers. People are not ready to take risks. People are avoiding any types of investment due to slump and poor safety situation in Pakistan. These days I am searching any cheap home for our family residence. I am unable to find any good home due to the fact that people are not ready to sell their property at lower prices. Despite this property slump, people are waiting for any good time in future where they may get higher prices for their property. However by analyzing situation in Pakistan one can easily infer that such time would not come in near future. However needy people, business changers, immigration and migration seekers are selling their property at lower prices.
Often I get CV's of web developers and software engineers asking for job or work. I myself get little work. I will suggest them to go to Europe where plenty of high paid work is available if they learn any language of European countries other than There are tens of thousands of English speaking Web developers in the English speaking countries like USA, Britain, Australia and Canada etc. However, they are very rich countries having enormous resources and wealth. They will continue to adjust immigrants due to their huge potential. Similarly, rich Arab countries are good place to find IT or web development jobs. Comparing Pakistan with these countries is like comparing any remote village with any metropolis or big city.
