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An economist identifies the reasons for the rise in real estate prices
- Time: 01/06/2022 22:52:51
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{Economic: Al Furat News} The economist, Basem Jamil Antoine, on Thursday, identified the reasons for the rise in real estate prices.
The useful summary.. In important news, you can find it in Al-Furat News channel on Telegram.. [You must be registered and logged in to see this link.]
. Antoine said { to Al-Furat News } that: “The rise in the price of the dollar and the decline of the Iraqi dinar led to the purchase of real estate by two main factors, the first to launder money by buying land in Upscale areas, building them in the form of buildings, and then selling them.”
He added, "As for the second factor, real estate is not sold directly, but rather through 5 brokers."
Antoine pointed out, "The circulation of real estate and the abnormal profits resulting from it caused monetary inflation in this field, and money laundering is a major element for uncontrolled investments and evasion of taxes and fees in the event of buying any real estate or other needs."
He stressed, "the need to pass the real estate transfer from one name to another through the income tax, and the contract is sealed, and the buyer must follow up from where you got this."
The economist concluded, "Now corruption and bribery cause silence, and real estate is presented at less than its value, and the process crosses."
And the Iraqi Economic Center revealed that the year 2021 witnessed a significant and "enormous" rise in real estate prices for some residential and commercial areas in the capital, Baghdad.
A statement by the Center stated that these prices may exceed their counterparts in the Emirate of Dubai and the British capital, London, where the price of one commercial meter sometimes reached 10 thousand dollars, which indicates the perceptions that there is money laundering or inconsistency in real estate prices after the government tightened the screws on financial transfers. exterior.
He noted that real estate prices have been on the rise in recent years, and it is possible for the government to change the law on real estate trading at the capital level and not the amounts that are bought and sold in the same year or at close times.
[You must be registered and logged in to see this link.]
{Economic: Al Furat News} The economist, Basem Jamil Antoine, on Thursday, identified the reasons for the rise in real estate prices.
The useful summary.. In important news, you can find it in Al-Furat News channel on Telegram.. [You must be registered and logged in to see this link.]
. Antoine said { to Al-Furat News } that: “The rise in the price of the dollar and the decline of the Iraqi dinar led to the purchase of real estate by two main factors, the first to launder money by buying land in Upscale areas, building them in the form of buildings, and then selling them.”
He added, "As for the second factor, real estate is not sold directly, but rather through 5 brokers."
Antoine pointed out, "The circulation of real estate and the abnormal profits resulting from it caused monetary inflation in this field, and money laundering is a major element for uncontrolled investments and evasion of taxes and fees in the event of buying any real estate or other needs."
He stressed, "the need to pass the real estate transfer from one name to another through the income tax, and the contract is sealed, and the buyer must follow up from where you got this."
The economist concluded, "Now corruption and bribery cause silence, and real estate is presented at less than its value, and the process crosses."
And the Iraqi Economic Center revealed that the year 2021 witnessed a significant and "enormous" rise in real estate prices for some residential and commercial areas in the capital, Baghdad.
A statement by the Center stated that these prices may exceed their counterparts in the Emirate of Dubai and the British capital, London, where the price of one commercial meter sometimes reached 10 thousand dollars, which indicates the perceptions that there is money laundering or inconsistency in real estate prices after the government tightened the screws on financial transfers. exterior.
He noted that real estate prices have been on the rise in recent years, and it is possible for the government to change the law on real estate trading at the capital level and not the amounts that are bought and sold in the same year or at close times.
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