2023-04-27 00:15:12
Baghdad / Obelisk Al-Hadath: Residential and commercial real estate prices in Iraq continue to rise, recording unprecedented records.
Baghdad, Karbala, Najaf, Basra, Fallujah, Ramadi and Hilla topped the cities of Iraq in terms of high real estate prices, as observers say that many of them are more expensive than real estate in cities in stable neighboring countries of Iraq, such as Istanbul, Tehran and Amman.
The writer and political analyst, Haider al-Moussawi, said that there are areas in Baghdad where the price of real estate is sold by the meter, which ranges from one million dinars to 30 million dinars in neighborhoods that are idiomatically called high-end. These imaginary prices are unparalleled in London and Dubai, which are known for their high real estate prices. .
He added, in an interview with Al-Masalla, that there are many reasons for this increase, including the increase in fertility in Iraqi society and the population inflation represented by an annual increase estimated at more than one million newborns, which leads to an increase in the demand for housing through the division of families.
And he indicated that the absence of government solutions in dealing with the crisis, which has become as if it is difficult to solve, in addition to the most dangerous and important reason, which is the purchase of homes and housing units through theft of public money, in what is known as internal money laundering.
He pointed out that obtaining a housing unit has become a dream despite the existence of new housing complexes, but the price offers in them are very high, some of which reach 350 million dinars for the housing unit within these complexes, which the simple employee cannot buy.
He explained that the solutions lie in issuing a government decision to sell all real estate through banks to reduce the phenomenon of money laundering stolen from the state through bank accounts, indicating that the government sector must enter as a basic partner at half the value in all residential complexes that are to be built to reduce greed among local investors. or even foreigners.
He added that the establishment of new cities on the outskirts of Baghdad and linking them via highways to the capital for the purpose of absorbing the special momentum due to population inflation.
Dirty money distorts the real estate market, but the actual impact depends on several factors, including the size and quality of dirty money and government anti-money laundering policies.
For example, the average price of a residential property in the Karrada neighborhood in Baghdad was more than $280,000, a difference from what it was in 2015, when the average property price in the same neighborhood was about $180,000, and last year it reached the threshold of $250,000, while sales were recorded in other areas. Another two million dollars for some houses and residential buildings, by evaluating the building according to its area and according to the selling price per square meter, which ranges in some areas between 1,200 and 2,000 dollars.
And the Central Statistical Organization of the Iraqi Ministry of Planning issued a field study on the number of real estate and housing units in Iraq, which, according to the latest statistics, amounts to 4 million and 520 thousand buildings and housing units. 76.1% of which (70.2%) are located in urban areas and city centers, while (29.8%) of these buildings are located in rural areas throughout Iraq.
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