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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    British report reveals: Senior state officials bought 70,000 properties

    Rocky
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    British report reveals: Senior state officials bought 70,000 properties Empty British report reveals: Senior state officials bought 70,000 properties

    Post by Rocky Wed 27 Sep 2017, 2:04 am

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    British report reveals: Senior state officials bought 70,000 properties


     The range / Zahraa al-Jassim 

     In a number of Arab and foreign countries, the Iraqis have taken a large share of the real estate markets. As they topped the list of foreign buyers in Turkey last month, they bought tens of thousands of properties in London in one year, All the Gulfs in a quarter of a century in the same city. According to a statistical report by the Jordanian Department of Lands and Survey, Iraqis came first in sales of real estate in the Kingdom during the last eight months of this year. 

    He attributed the economic expert reasons for the direction of Iraqi capital to invest abroad to several factors, most notably the lack of activity in the real estate market in Iraq over the past three years, and called for a review of the policy of foreign investment in Iraq again and evaluate its effectiveness, with the importance of encouraging Iraqis to keep their savings at home and investment.
    According to Turkish statistical data issued by the Iraqis list of foreigners buying property in Turkey during the month of August by buying 317 properties, the Saudis came second with 198 properties, followed by Kuwait 135 property and the Russians with 95 properties, the Afghans with 81 properties.
    "The Iraqis bought more than 70,000 properties in London in 2014 alone," said Kader Khan, sales manager at Britain's largest state-owned real estate firm, Heart State Agent. "This figure is more than all the Gulfs bought in a quarter of a century In the British capital, explaining that Iraqi buyers are not residents of Britain, but working in the Iraqi state and in senior positions, such as ministers and deputies and higher. The profit tax that will come from British real estate sales is 28 percent. This tax is taken from the increase in the price of real estate, ie, the difference between the purchase price and the selling price.
    In addition, the Iraqis came first in terms of value of investments with a volume of 159 million dollars and 51% of the estimated value of sales of non-Jordanians. Saudi nationality ranked second with about 65 million dollars and 20% with Syrian citizenship at 17 million dollars and 5%. 
    According to the report issued monthly, the number of sales of property to non-Jordanians during the month of August last 295 treatment, where the Iraqis also came in the top with a total of 116 properties, Saudi nationality ranked second with 47 properties, and the Syrian nationality third with a total of 37 properties, and Kuwait with a total of 24 properties.
    In terms of value, the Iraqis also came in first place with an investment of $ 25 million and 65% of the estimated value of sales of non-Jordanians during the month of August last followed by Saudi nationals with a value of $ 4 million and 12%, then Syrian $ 2 million and 5% .
    Economic expert Ahmed Breihi said in an interview with "(to the extent), that this comes in the door of foreign investment, which is usually interested and preoccupied by the macroeconomic policies of countries, financial and monetary tax and interest rates and exchange rates, in order to attract investment from abroad, We in Iraq also followed policies to attract foreign investment, the aim was primarily to try to recover the Iraqi capital endemic abroad and encourage Iraqis to invest their savings at home, but unfortunately, the policies we have adopted did not achieve the success we have been waiting so far, so the this is Figures identified in these reports to the Iraqis on the acquisition of real estate markets in other countries indicate the extent of Iraq's inability to recruit national savings, where it goes an important part of these savings and takes its way to other countries' markets, specifically the real estate market for those countries.
    "Why real estate? One may say that real estate is a material asset that does not need to have significant experience in the business sectors, such as industrial investment, tourism, etc., and real estate investments are usually less risky because of their nature and their markets, saying: even fluctuations in prices remain in limited ranges At a time we hope to review the policy of foreign investment in Iraq again and evaluate the effectiveness and why did not lead to the desired results, so as to do what can encourage the Iraqi capital to keep their savings at home and investment, because we still aspire to restore the heads of Amwa For the Iraqi from abroad. On the other hand, the real estate market in Iraq was not active, which contributed to the decline in land prices and the rest of the real estate in the past three years, as believes Berihi, who confirms that the real estate markets and prices rebound for various factors, first level of government spending, the higher this in Iraq, The increase in land and other real estate assets, and the other factor is the availability of sources of bank financing for real estate investments, the more loans granted by banks to these real estate investments at their capacity, will lead to higher prices, and to get out of this problem as we should review the policy of The fruits of foreign in Iraq.
     

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