Chairman United Defence Clifton Estate Agents Association Raja Mazhar Hussain said the price of open plots and bungalows in the posh areas had fallen by 10-40 per cent and 10-15 per cent, respectively. — File Photo
KARACHI: While falling property prices attracted genuine buyers only the bleak economic scenario and uncertain future irked the investors, who led the rally five years back, estate agents said. They said the falling property rates did not translate into more sale/purchase deeds over the last three years. Rising cost of living on account of surging food prices, higher utility charges drove even some genuine buyers out of the property market.
