Monday 23 November 2009

Is that what it was all about?

From the BBC:

... the capital of Afghanistan is experiencing a boom in real estate prices which defies the downward trend for property in many other parts of the world. According to local estate agents, prices in some parts of Kabul have risen by 75% in the past year.

Part of this increase is due to the prices that international agencies are willing to pay to acquire properties in the best locations. But wealthy Afghans, who have seen their property portfolios in Dubai plummet over the past year, have also pulled their investments out of the Gulf to plough back into Kabul. Most of those Afghans earned their money from contracts they have with the military and construction projects, although some acquired it from proceeds of the drug trade and buying property provides them with a means of laundering illicit gains.

6 comments:

Sue said...

Now its property market is healthier than ours I guess it's time to get out of there.

We can ship back all the Afghani's that are holed up in the UK and they can go and enjoy their new found wealth!

Job done!

bayard said...

Property speculation - a great British export: first Europe and now Afghanistan.

MTG said...

We are favoured with instructions to place on the market, this fine mini citadel of particular interest to tank spotters. Two bomb shelters and standard bullet proof glass throughout, it offers further potential for a self contained granny panic room and grenade store.

Lola said...

Another argument for (a) legalising narcotics and (b) LVT perhaps?

Mark Wadsworth said...

S, the problem is that 'new found wealth' accrues to those whose land title is already in place, not those who now move there.

B, M, indeed.

L, "yes" and "yes" repsectively.

James Higham said...

I should think Mogadishu might also be in that league too.