KARACHI - Most of the real estate dealers are claiming that it was the right time to make investment in the property as the prices are on the lowest and affordable side and there are strong chances of upsurge in prices at the end of this calendar year. The real estate dealers said that the political situation is expected to improve in next two to three months that would encourage investment in this sector, leading to improvement in prices. They said that at present the stock market was facing the worst recession and the best way to make investment was the real estate sector. Yunus Rizvi, representative of United Defence Clifton State Agents said that the people who were making investment in Dubai and Malaysia might lose the chance of earning a handsome profit expected from investment in real estate in Pakistan in coming months. He pointed out that the UAE based mega real estate entities, Emaar, Alghurair Giga, Creek Land and Damac Property had undertaken real estate development projects in Pakistan as they expect boom in this business in the years ahead. These companies make planning on the basis of their 10 to 20 years assessment and their hectic involvement was a strong evidence of improvement in real estate business and prices, he added. Chief Executive Fazaiya Estate Hidayat Ali said that the newly-introduced DHA Valley Scheme in Islamabad has attracted an overwhelming response from the investors that was an indication that the people still wanted to make investment in real estate, but they prefer only credible housing projects and schemes. He said the prices of plots and houses have declined by 30-40 per cent in most of the urban areas during the past one and a half years and this was the right time to buy plots and homes. He hoped that the political situation would improve in the country in next two to three months as a result the property business is expected to take-off gradually with appreciation in prices. Another dealer said that the big investors were still reluctant to buy stake in the real estate because of instable political situation. Currently, he said, the major investors were making investment in Dubai and showing least interest in Pakistan because of over a year long political mess. Real Estate experts said the remittances were still showing impressive growth and the people would definitely invest this money in property as soon as the political situation betters. It was also learnt that most of the constructed/well furnished houses, flats and plots cost 20 percent off-peak in the high-class localities of metropolis while the prices in low-income and middle-income dense settlements and residential areas have declined by 10 percent owing to squeezing purchasing power of the small investors. In the popular localities the furnished houses, apartments are waiting for the genuine purchasers. "The losers in the stock markets usually do recover their loses from investing in the property business which is an easiest way to get back their money and after coming Eid, the growth in remittances may boost up which could lead the overseas Pakistanis to invest into the local real estate business", the real estate expert said, adding, "the sustainable pace of capital inflows are the only hope that can take or put the property market on the fat track otherwise, the market may remain in the grip of artificial fluctuations and ups and downs. To a query about the response of buyers toward new housing schemes situated within the city, the real estate dealer said that except Defense Housing Authority (DHA) and "Cantonment Boards authorized projects, 80 percent schemes are fake that existed only on papers and the dealers use attractive and catchy advertising, marketing campaigns to exploit innocent buyers. The growing inflationary pressure on account of rising cement and steel prices, the infrastructural development work is being deferred on the housing sites. The construction of a plot has become a nightmare for the general public due to immense expenses of concrete material but despite slowdown in the real estate prices, in most of the cases the people are not eligible to buy a small piece of land.