House Prices Fall By 50% In Kabul As Migration Level Rises: Report.

House Prices Fall By 50% In Kabul As Migration Level Rises: Report

As per dealers, property sales have sharply fallen, rent prices have gone down by 50% (Representational)

Kabul:

After the Taliban's messy takeover of Afghanistan last month, the real estate prices and house rent has fallen drastically in Kabul, Tolo News reported citing real estate dealers as saying.

According to dealers, property sales have sharply fallen and rent prices have fallen by 50 per cent.

The dealers said business has decreased dramatically as these days people are not buying houses because they either do not have enough money or are trying to leave the country.

Some houses, according to dealers, remain empty as renters have left the country.

Mohammad Yousuf, a property dealer in Kabul said that he has been dealing in real estate for the past 13 years and house rent prices have fallen by 50 per cent.

"House rent prices have fallen approximately by 50 per cent. If before this a house was rented for 20,000 Afs, now its rent is 10,000. The prices will fall further because people are migrating and are not interested in living in the country," Tolo News quoted Yousuf as saying.

Other residents, however, welcomed the decrease in rent prices. Khalilurahman, a resident of the township, said: "It is good news that the rent price has decreased. But the problem is that almost all residents of the township were employees of the former government and they have not been paid their salaries."

Meanwhile, some other residents of Kabul voiced their concerns over the worsening economic situation and called on the Taliban government to address the problem.

"Will the necessary services, and promises made to the people, be implemented? We hope that employment opportunities are provided for the people, and we get out of poverty," Tolo News quoted Khawja Mohammad Shafi, a Kabul resident as saying.

Afghanistan plunged into crisis last month after Kabul fell to the Taliban and the democratically elected government of former president Ashraf Ghani collapsed. The seizure of power has forced thousands of Afghans to flee for fear of reprisals from the outfit.

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