Drastic fall in property demand and prices in Kabul, rent of flats down by 50%

With the fall of the Afghanistan government and the evacuation of US coalition forces, the condition of the worn-torn country is getting bad to worst. Now it is reported that the real estate prices and house rent has fallen drastically in the capital city of Kabul. 

According to dealers, property sales have sharply fallen and the rents of houses have fallen by 50%. The drastic fall in prices and fall in demand for property is attributed to the fact that people are either not buying houses because they do not have money or are trying to leave the country.

Some of the houses in the city are vacant because the tenants have left Afghanistan and taken shelter in some other country. A property dealer in Kabul who has been dealing in real estate for the past 13 years said to the media that the house rent prices in the capital city have fallen by 50%.

Kabul Property Dealers Association said that the property prices in Kabul had started falling ever since March this year because of a range of triggers including political and economic uncertainties, US coalition forces evacuation plans and a delay in the bilateral security agreement.

As per the Property Dealers Association, the flats that were once rented for Rs 20,000 were now being rented out at Rs 10,000. The Association said that the 73 lakh rupees flats were now available for sale at 33 lakh rupees.

Meanwhile, some residents of Kabul have voiced their concerns over the worsening economic situation in the country and called on the Taliban government to address the problem. Unemployment is also at an all-time high in the country and food scarcity is becoming a menace.