KABUL, Afghanistan — In a resilient town gradually recovering from turmoil, a man named Omidullah aims to make a significant sale. As a real estate agent in Kabul, he is offering a luxurious nine-bedroom, nine-bath villa adorned in white and gold. Inscribed in sparkling Arabic on the gable are the words “mashallah,” translating to “God has willed it,” enticing both potential buyers and real estate brokers alike.
The villa’s price tag stands at $450,000, a surprising figure in a country where a significant portion of the population depends on humanitarian assistance, many Afghans lack bank accounts, and the concept of mortgages is nearly non-existent. Nevertheless, inquiries are pouring in. “It’s a misconception that Afghans lack financial resources,” Omidullah remarked, highlighting that numerous affluent entrepreneurs from Afghanistan maintain thriving businesses overseas, resulting in real estate values soaring into the millions.
Interestingly, the peace currently enveloping Kabul seems to be pushing luxury property prices upward. Many Afghans, who had spent years abroad, are returning, compelled by the improved security and stability following decades of conflict and infrastructural decline. This includes those seeking refuge from deportation efforts in Iran and Pakistan, bringing their resources back to Afghanistan.
Due to a lack of bank deposits, mortgages are scarce; most transactions occur in cash or involve the “geerawi option,” where a tenant provides a set sum to the landlord for living on the property until the landlord retrieves their investment.
According to real estate agent Ghulam Mohammed Haqdoost, investments in Kabul were previously discouraged before the Taliban’s reign. However, the new administration has seemingly fostered a friendlier environment for real estate transactions in various aspects. The city bears less violence since the Taliban changed from insurgents to ruling authority, even though barricades and military vehicles remain a common sight.
The Taliban have committed to enhancing bureaucratic processes, promising to eliminate corruption and oversee legal and commercial dealings. This shift means buyers no longer need to navigate negotiations with warlords or bribed officials when purchasing land or commencing construction. Haqdoost expressed satisfaction with the efficiency of operations in the current climate. “House prices have surged by nearly 40%,” he noted, adding that his agency has successfully sold around 400 properties over the past three years, a marked contrast to earlier times.
For builders, the current climate presents a lucrative opportunity. Haqdoost’s firm employs 200 staff members in administration, including women tasked solely with interacting with female clientele, while about 1,000 are engaged in construction efforts. He pointed out that it’s often the women who play pivotal roles in real estate purchases, despite ongoing challenges faced by women in Afghan society. “Women hold the power in real estate,” Haqdoost stated. “Their approval is crucial for any home purchase.”
Clients of Omidullah and Haqdoost frequently seek amenities like gardens, gyms, swimming pools, guest accommodations, and multiple kitchens, underscoring hospitality’s importance in Afghan culture. Guests are generally welcomed into homes rather than hotels, further illustrating the cultural significance of familial connections.
The global tastes of their primarily overseas clientele are evident, as these buyers seek modern additions like dining tables and beds, contrasting with local customs where families often eat and sleep on the floor. Moreover, there is rising interest in purpose-built apartment complexes featuring central heating, double-glazed windows, and elevators.
The local government is striving to enhance the city’s livability by improving roadways, installing streetlights, cultivating greenery, and managing waste. Additionally, plans are underway to promote affordable housing and boost homeownership. This initiative is crucial, as Kabul’s population has skyrocketed from around 500,000 at the beginning of the century to over 5 million currently, resulting in densely populated and noisy neighborhoods that persist despite beautification efforts.
For those who can afford to do so, many are moving just outside the city limits. Along the shores of Qargha Reservoir, some of Kabul’s most extravagant homes are situated, engulfed in landscaped gardens and stunning views of the lake. One residence is noted for resembling a grand mosque, while another’s stark architectural style has drawn comparisons to a fictional villain’s hideout, allegedly belonging to a wealthy Turkish businessman whose identity remains undisclosed.
The area has largely turned into a male-dominated space since the Taliban’s ascendancy, with women visiting only briefly with family. Arash Asad is currently trying to sell his uncle’s expansive property that boasts 4,000 square meters (43,000 square feet) overlooking the reservoir and the stunning Paghman Mountains. The asking price? $800,000.
Asad described the property’s charm, filled with vibrant flowers and cherry trees, and shared the importance of gardens in Afghan identity. “Many come from agrarian backgrounds,” he said, reflecting on how city dwellers often seek a piece of their rural past. Inside a luminous living space, his uncle enjoys the serene vista of the water.
Asad’s family is inclined to turn the property into a business venture rather than sell, yet the real estate broker fields countless inquiries during his commute from central Kabul. Social media has significantly heightened interest in the property, providing a contrasting narrative to the perception of limited economic prospects in the country. “People assume Afghanistan lacks job opportunities,” Asad remarked as the sun dipped below the horizon, signaling the vibrant evening ahead for local men venturing to the lakeside. “But many Afghans have prospered legally or otherwise; you’d never guess the extent of it.”
