Economy

Prices for cars & houses in Kabul have dropped by 50 percent

A view of Kabul City
Written by Zwak News

Khan Jan Alokozai, the chamber’s deputy, said that at present, house and car prices in Kabul have dropped by up to 50 percent.

Mr Alokozai added: “The price of cars has dropped by 50% in general, especially small cars. The price of cars is in dollars and is calculated in dollars, because the dollar is declining in Afghanistan, so the prices have gone down.”

He added that houses that used to be rented for $ 1,000 in Kabul in recent months are now rented for half that amount.

Mr Alokozai blamed falling car and house prices on the country, a shortage of dollars, people fleeing Afghanistan and unemployment, saying the ambiguous political situation in the country had cost millions of dollars.

The Taliban took control of Afghanistan on August 15 (August 24), and since then, there have been many problems for the people. Many people, including government officials, have lost their jobs, banks are slowing down, and the Taliban’s supply of services in the country has dropped to zero.

Some Kabul residents say they are skeptical of Afghanistan’s future, so many people want to leave the country by selling houses and furniture.

Mohammad Farzad, a resident of Kabul, said: “I brought my car for sale in the Karkhaneh Charity Hotel. Its type is Corolla and its model is 1997. I bought it for $ 5,000 a year ago, but now it has no buyer for $ 3,000.”

Farzad added that due to lack of money, he intends to sell his car.

Hundreds of people display their cars on Thursdays and Fridays at the company’s car dealerships, Serkotel Khairkhaneh, Qasbeh and Qarabagh district of Kabul.

Mohammad Idris, who has been buying and selling cars in the Khair Khana Pass for several years, told VOA that many people now sell their cars at the Friday market, but there are few buyers.

Mr Idris added: “The reason for the drop in car prices in Kabul is that there is no money. All the money of traders and car dealers was locked in banks and car dealers bought tens of cars for a lot of money before the fall of Kabul, but prices went down. “Now millions of afghanis have been repaid.”

Although there have been fewer changes in the price of lower model cars, at present, models higher than 2010 are sold at a relatively low price.

Car dealers say that the owners of these cars are afraid of their passing through the city, and in some cases, these cars are stolen by thieves.

As car prices plummet, some Kabul residents say house prices in the city have dropped to unprecedented levels in recent months.

Fakhreddin, who trades in a suburb of Kabul, told VOA that many people come to his shop every day to register their homes for sale.

He added that although the number of homes registered for sale and mortgage has increased, there are fewer buyers than in the past.

He said homes that used to sell for $ 100,000 now sell for less than $ 70,000.

At present, in many parts of Kabul, old property markets have been established and people are buying and selling them in these markets.

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