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Experts in the economic affairs expected, today, Wednesday, a change in real estate prices in Iraq during the coming period after the Cabinet's decision, which stipulated the ownership of agricultural lands, while they considered the decision a positive step that will positively reflect on the decline in real estate prices and alleviate the housing crisis.
The economist, Mustafa Akram Hantoush, told the official agency, followed by (Al-Oula News), that “the issue of converting the genus of agricultural land on which buildings and houses were built by the people, to the genus of the property (real estate) instead of agricultural, has many advantages and financial returns, as the decision means the inclusion of These areas are provided with services such as electricity and water, which will allow the collection of money for the state.”
Hantoush added: “In addition to that, the transfer of land will not be free, as the price of converting a meter reaches 100,000 dinars, and these funds can be reinvested in the construction of roads and urban planning.”
He explained, “The transfer decision will lead to an increase in the prices of agricultural lands, and the price per square meter may range from 700 thousand dinars to one million, but at the same time it will result in a decrease in real estate prices in the regions, due to the entry of about two and a half million housing units from agricultural to property.” Cashing".
For his part, the economic advisor, Duraid Al-Shaker Al-Enezi, told the official agency, followed by (Al-Oula News), that “the decision to convert agricultural land into residential is large and very important, and it was necessary to conduct an extensive study in an economic and comprehensive manner, starting from the number of plots and the quantity of materials used in housing units and services.” which must be provided in terms of water, electricity and schools.”
Al-Enezi pointed out that “the size and area of lands in each governorate must be known, in addition to determining future prices, as the decision will provide about two million residential plots of 200 meters, i.e. a sudden offer of lands that could be housing units, in addition to that it will result in a decrease Real estate prices within cities in general, however, the prices of building materials will rise, especially since 80 percent of these materials are imported, which will lead to an increase in demand for them.”
And he continued, “Raw materials must be provided in coordination with the Ministry of Industry, while looking at the volume of loans and interest and the exploitation of amounts deposited in the central bank, in addition to instructing the concerned authorities to consider the services provided to housing units in those areas, in order to relieve pressure on city centers.”
In turn, the lecturer at the College of Administration and Economics - Al-Mustansiriya University, Ahmed Al-Husseini, told the official agency, followed by (Al-Oula News), that “the decision carries many negative and positive aspects, as one of its negative aspects is the reduction of green spaces, especially since the country suffers from the consequences of climate change, global warming, desertification and drought.” ".
Al-Husseini added, "Issuing the decision will increase these effects, in addition to encouraging citizens to own agricultural lands, even if they own real estate within cities, in order to benefit from converting them into residential ones."
He explained, “The cabinet’s study of the issue of agricultural land in order to take a decision regarding it, concluded that the matter is a reality of the situation, and is similar to the slums law that was approved by the House of Representatives earlier, and therefore the state cannot stand idly by in front of the reality of the situation that indicates There are hundreds of thousands of citizens living in these slums whose lands are mainly owned by the state.”
And he believed that “this reality of the situation prompted the Council of Ministers to approve the law of ownership of slums, and then committees will be formed from the Council of Ministers to calculate the price of one square meter of land, re-contract with citizens and sell them at prices that will be approved later,” suggesting that “what happened with slums will happen with Agricultural land, whose gender will be transformed from agricultural to residential.
Al-Husseini called on the Council of Ministers to “set a time limit for the process of converting the sex of the land, such as deciding that whoever lives in agricultural lands now, for example (from the date of 2020 to 12/31/2021) will be covered by this decision, and whoever buys agricultural land after that does not change its gender and remains As the inhabitant by overtaking, in order to reduce the purchase of agricultural lands by overtaking and to organize the housing process.
And he noted, "The decision will have other obstacles unless it is followed by realistic solutions commensurate with the size of the issue at hand to reduce the phenomenon of the impact of this decision on the environmental aspect and urban planning for cities."
He pointed out, "The Council of Ministers could have used other solutions when making this decision, including expanding cities or building new cities and investing in the initiatives of some countries that have a desire to enter the Iraqi housing sector by contracting to build low-cost and environmentally friendly housing units."
Meanwhile, academic economist Majed Al-Baydani confirmed to the official agency, followed by (Al-Oula News), that “the urban planning of Iraqi cities will be greatly affected when implementing the Cabinet’s decision to own agricultural lands,” noting that “the problem of housing and real estate prices in the country has not been solved yet.” Despite the construction of many residential complexes.
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