Afghan real estate sector witnessing surge

This view is sure to astound many, if the existing situation of the violence-ridden country is taken into consideration. Lots of recent studies do assert that the real estate sector is witnessing a surge in the realm of Afghanistan too and as per a considerable section of local estate agents, prices in some parts of Kabul have risen by 75% in the past year.

What has led to this exceptional phenomenon then? Agents elucidate that a part of this increase is on account of the prices that international agencies are willing to pay so as to get hold of properties in the best locations. What is more a section of the affluent Afghan society is also getting interested. It has come to the knowledge that wealthy Afghans, in particular the people who have seen their property portfolios in Dubai drop over the past year, have also pulled their investments out of the Gulf to plough back into Kabul.

You may be wondering of the factors that contributed to this affluence. A good number of those Afghans earned their money from contracts they have with the military and construction projects. Nevertheless, some acquired it from payoff of the drug trade and buying property renders them with a way of decontaminating unlawful gains.

One person who has already made fortune is Richard Scarth, an erstwhile naval reservist in London and was posted to interior Afghanistan five years ago. At that time he happened to be the lone qualified chartered surveyor in the country and started his own company, Property Consulting, handling the buying and leasing of real estate.

However, as said by Richard Scarth, daily life in Kabul remains moderately unaffected in spite of the global downturn. Reason? He is prompt in explaining and states the only reason is that the entire economy, for the moment, is UN-driven and money continues to flow no matter what is happening in the wider world.

Last of all, in accordance with the constitution, only Afghans can own property, hence for every transaction there has to be a local partner. Are you ready to have one and get benefited?