Real Estate Investment Share .. Gate to solve the housing crisis
24/7/2018 12:00 AM
[rtl]Need cooperation of public institutions to activate its role
Baghdad / Mustafa al-Hashemi
Activating the role of real estate investment companies is a demand in the Iraqi economy because it is a challenge to the housing crisis through the provision of housing units with international standards, but the role of these companies is limited to the absence of government support of the allocation of land for the establishment of housing projects, which will reduce the price of housing units and relieve the citizen.
In Iraq, there are 3 private companies working in the field of real estate investments and contracting. They are listed in the Iraqi Stock Exchange but their activity is very limited due to lack of government support represented by the provision of land to them because their activity in the real estate market depends mainly on the allocation of land by the Investment Authority or the
concerned ministries . Real estate investment Mohammed Shihab said that "activating the activity of real estate investment companies will reduce the high prices of real estate in the city centers and reduce at the same time the housing crisis suffered by Iraq, especially as it is growing population census," calling on the economic file to Revisiting the issue of real estate investment companies and their role in providing adequate housing for the public as the adoption of housing units on land acquired or bought from the state to be sold to the citizen in monthly installments comfortable.
"The lower the price of the piece of land that the companies get, the higher the price of the residential unit sold to the public supported and less expensive, which reduces inflation rates in Iraq in general, because the housing and housing index is always high in the data of the Ministry of Planning, Calling for an
end to the high prices of real estate that cause high
inflation. " Capital and "the need to accelerate the resolution of the issue of high real estate prices and provide support to real estate investment companies belonging to the private sector because they represent the most appropriate solutions to reduce the housing crisis, as well as the provision of capital investment local rather than foreign."
"The country needs to rethink the real estate investments away from the dealers who contributed in one way or another to igniting the real estate market by inflaming high prices at a time when these prices do not match the reality of services in residential areas," Shihab said.
In turn, Engineer Ali Tariq told Al-Sabah that the rise in real estate prices is due mainly to the increase in labor wages and the prices of imported construction materials that are not subsidized by the state. "He called for providing government support and allocating land to real estate investment companies for their prominent role in reducing the housing crisis. and installment system sold
to the public. " website
Tariq pointed out that "the launch of a specialized website service to offer opportunities to buy and sell real estate in Iraq will connect the seller directly to the buyer and there is no need to mediate the auction in the sale or purchase because the current stage requires the development of the reality of the real estate market using technology and websites, which may encourage the reduction of height Real estate prices and also reduce the greed of the auctioneer. "
"The real estate market in any country in the world is subject to supply and demand, but the general situation in Iraq has other effects in determining those prices,
" said economist Majed al-Suri, adding that "although there are general trends in real estate, The prices of some real estate more than the required level compared to the services in their areas, stressing the need to solve the problem of housing and commercial areas, which the value of the property to 10 times its real value [/rtl]
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