17 hours ago
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The economist, Nabil Al-Ali, explained, today, Tuesday, that the loans launched by the Central Bank are not parallel to the existing housing units and the increase in the number of real estate, while noting that these loans are working to raise real estate prices to increase demand and the lack of supply.
Al-Ali said in a press interview seen by “Taqaddam”, that “the loan project alone will contribute to raising real estate prices more, due to the absence of the expansion of cities or housing units,” stressing that “the availability of many loans will increase demand, and consequently real estate prices will rise.”
He added, "The Iraqi government is required to make available plots of land and residential complexes so that the loans offered by banks can be used to increase real estate and control the escalating price hike."
He continued, "The government and the concerned authorities should create a special program to control the rise in real estate prices and solve the housing crisis in Iraq."
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