The "suspicious" reputation of black money is lowering real estate prices in one of the most expensive streets in Iraq[You must be registered and logged in to see this link.] |Today, 18:0[You must be registered and logged in to see this image.]
Baghdad today - Baghdad
Repeated accusations that politicians and behind-the-scenes officials invested in so-called black money prompted many to refrain from buying land in one of the most expensive streets in Iraq, which led to a drop in prices for the first time in years.
Abu Muhammad, the owner of a real estate store, said in an interview with (Baghdad Today) that "in Tabu Street in the center of Baquba, the price per square meter is about 15 million dinars, and it is the most expensive street in Diyala at all, and it is classified among the streets in the country."
He added, "The black money, which is meant by the corrupt money that some people get and invest in buying land or real estate in the street, is what prompted the price per square meter to go up insanely in the past years, even though it is a street that is distinguished only by the large number of clinics and restaurants."
He pointed out that "the curse of black money prompted a reduction in the price per square meter to 12 million dinars and a little less, and it was sold at this price weeks ago, according to the information."
Ahmed Hassan Al-Obeidi, an economist, said, "There are secrets behind the high prices of real estate in Tabou Street, but indeed, there may be surplus money among some that prompted them to invest it and buy real estate there, regardless of the prices."
He added, "There is talk about black money, but no evidence was available about it, but the question that many repeat is why some people pay billions of dinars for a piece of land that is not distinguished by anything," stressing that "the buying fever is high in several areas of Baquba, including this street."
Political activist Ali Hadi said, "Everyone knows that black money is present in Diyala, and buying fever is in Baquba and the rest of the cities, some of which belong to politicians and officials, especially since there is obscene wealth for some, and this was confirmed by many deputies and politicians."
He pointed out, "Where did you get this from? If it was actually applied in Diyala, we would be in front of big surprises."