ISLAMABAD: Residents of Islamabad who hail from rural areas of Pakistan are being forced to return home as high inflation and rising rents make living in the capital city unaffordable.
Inflation in Pakistan hits a 50-year high of 31.5%, placing the country as the 17th most expensive in the world, following a surge in energy and fuel prices, currency devaluation, and halted imports.
To make up for losses, landlords in Islamabad have increased rents by 20 to 50 per cent, further compounding the issue.
Fayyaz Chaudhry, a resident of Gujrat who works in Islamabad, told APP that he was asked to pay Rs 30,000 per month by his landlord, up from Rs 18,000. When he refused, he was given a one-month notice to vacate the house, which was then rented out to another tenant for Rs 32,000.
Chaudhry was unable to find an affordable rental and had to send his family back to Gujrat, living in a bachelor hostel instead.
Master Riaz, a landlord who owns three houses in Ghauri Town, said he had no choice but to raise rents to cover his expenses amid the rising prices of essential items.
“The only income I earn monthly is the amount of rent I receive from my inmates. Now, prices of everything, especially of essential items have increased manifold, making it utmost difficult for me to fulfil my day-to-day expenses,” he shared while urging the government to address the menace of rampant inflation.
A real-estate businessman said the housing crisis in Islamabad worsened due to the increasing urban population and migration of people from rural areas, and the situation was unlikely to improve any time soon.
