After decades of war, prices in Afghanistan’s luxury housing market are rising

KABUL, Afghanistan (AP) — In a town that’s been through it all and is struggling to get back on its feet, a man named Omidullah is trying to make it big.

A Kabul real estate agent is selling a nine-bedroom, nine-bathroom white-and-gold villa in Afghanistan’s capital. On the gables of the roof, glittering Arabic letters tempt buyers and agents with the words “Mashala,” or “God willing.”

The villa’s price is listed at $450,000, an impressive number in a country with more than half the population. dependent on humanitarian aid Most Afghans are trying to survive don’t have a bank accountthere are almost no mortgages. Still, offers are coming in.

“It’s a myth that Afghans don’t have money,” Omidullah said. “We have big-time businessmen with big businesses overseas. We have homes here that are worth millions of dollars.”

A strange thing is happening in Kabul that is stimulating the luxury real estate market. Peace seems to be pushing up real estate prices.

many people come back

Those who have lived and worked abroad for years are eager to take advantage of the country’s vastly improved security and stability after decades of war, destruction and infrastructure decline. Among them are Afghans who have fled a deportation campaign in Iran. Pakistan A person who carries cash.

Mortgage loans are rarely taken because banks don’t have the deposits to facilitate lending. Afghans either buy with cash or take advantage of the “gerawi option.” In other words, someone lives on the landlord’s property and offers the landlord a fixed amount of money in exchange for staying there until the landlord pays the money back.

Previously people were afraid to invest in Kabul Taliban takeoversaid Ghulam Mohamed Haqdoost, another real estate agent. However, the country’s rulers have created better conditions for the real estate market in various ways.

Violence in the city has decreased since the Taliban transitioned from insurgency to power and foreign troops withdrew, but armored vehicles, checkpoints and military installations remain a common sight.

Sticking to a complex bureaucracy, the Taliban have promised to root out corruption and regulate legal and commercial matters. This means there will be no need to make deals with warlords or bribe local officials for land purchases or construction projects.

Haqdoost is pleased with how easily and quickly things are getting done under the new administration.

“Housing prices have increased by almost 40%,” he says. “In the past three years, we’ve sold about 400 properties. We never did that before.”

It’s a good time for builders

Haqdoost is doing well, employing 200 people in management, including women who work exclusively with female customers, and about 1,000 in construction.

He said most of his customers bring their wives along for tours. This is because women are the ones who make the decision to purchase real estate. critics say It oppresses women and deprives them of their rights. “The power and authority in the home is in the hands of women,” said Haqdoost. “They decide whether to buy a house or not.”

Omidullah and Haqdoost said their clients wanted a garden, gym, sauna, pool, guest rooms and at least one kitchen. Hospitality is a major part of Afghan culture, and this tradition is incorporated into housing. Afghans typically host and host visiting friends and family in their homes, rather than in hotels or restaurants.

Haqdoost’s customer base is primarily international, and their international tastes influence the interiors. They want novelty things like dining tables and beds. In Afghanistan, it is common for people to sleep and eat on the floor. They are also members of the diaspora who are looking for purpose-built housing complexes with amenities such as central heating, double-glazed windows, and elevators.

To make the city more attractive and livable, city authorities are working hard to build and repair roads, install street lights, plant trees, and remove trash. It also develops plans to promote affordable housing and promote homeownership.

That’s what you need to do. Kabul’s population in the early 2000s was about 500,000. Now it’s over 5 million. Despite the local government’s best beautification efforts, some areas still suffer from traffic congestion and noise.

An oasis on the outskirts of Afghanistan’s capital?

Those who can afford it head just outside the city. Some of Kabul’s most elaborate and expensive homes are built on the edge of the Kalga Reservoir.

One resembles an ornate mosque. The other has a rugged design jutting out from a hill, reminiscent of a Bond villain’s lair. Local residents say the building is owned by wealthy and influential Turkish figures who frequent the area. They won’t reveal his name.

This collection of landscaped gardens and decorative terraces overlooks the lake, one of the capital’s most beloved beauty spots. Since the Taliban took power, this area has been almost exclusively for men. Women stop by for a break with their families, but they tend not to stay long for the following reasons: vice ministry Authorities have manned one of the checkpoints surrounding the water body.

Arash Asad is selling his uncle’s property, which is about 4,000 square meters (43,000 square feet) of land. It offers panoramic views of the reservoir and the Pagman range at the foothills of the Hindu Kush Himalayas. Asking price: $800,000.

There is an outbuilding on one side and a living area in the center of the property covered by a bright blue roof. Most of the grounds are lined with flowers and cherry blossom trees. There are also some cranes. Also includes birds.

“Gardens are very important to Afghans,” Assad said. “Many of them are from villages. When they move to the city, they want to be reminded of their past, because it stays with them.” Inside the glass living area My uncle is sitting and looking at the water.

Assad’s family hopes to use the property as a business rather than sell it. But the real estate agent, a 30-minute drive from central Kabul, fielded numerous calls and messages. Photos of the property on social media generated a lot of interest.

“People think there are no jobs and no economy in this country,” Assad said. Outside the car, the sun sets over the reservoir, and the car carrying the men heads towards the lake. “But Afghans have been making money for years, illegally and legally. You wouldn’t believe it.”