13 hours ago
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Representative Mudar Al-Karawi affirmed, on Thursday, that the housing crisis in Iraq has reached its peak level during 2023, stressing the need to activate low-cost investments to confront the problem.
Al-Karawi said, in a press interview seen by Taqaddam, that “the housing crisis hits all Iraqi governorates without exception, including Baghdad, and it is among the peak rates at the present time, with the increase in the number of housing at high rates, especially in recent years.”
He added, "95% of investment permits in the housing sector are for affordable and above-average segments, although the demand for units represents segments with limited and poor incomes, which deprives them of any competition to win housing units."
He pointed out, "The presence of a parliamentary movement to support the file of low-cost housing investments for the state and direct support institutions in order to establish model neighborhoods with integrated services that can be transformed into an alternative to slums in the main city centers."
And he considered that "supporting low-cost investments is a strategic necessity because they constitute the vast majority of the demand for new housing units, at a rate of more than 80%."
The country is witnessing a suffocating housing crisis, whether in Baghdad or the rest of the provinces, and most of the investment permits are for affordable segments capable of paying 150-300 million dinars for each housing unit.
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