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Stagnation affects residential complexes in Sulaymaniyah
Economical 2023/07/15
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Al-Sulaymaniyah: Athra Juma’a. The
Sulaymaniyah governorate is witnessing a great stagnation in the sale of residential complexes in different areas and geographical locations, due to the owners’ requirement to receive the installments in dollars instead of dinars, which constituted a double burden on the citizen, after the fluctuation of its exchange rates.
Citizen Enas Salman told Al-Sabah that she bought a house in one of the residential complexes in the center of Sulaymaniyah and still pays monthly installments in dollars, but the fluctuation of its exchange rate against the dinar by 250 thousand dinars greatly confused her family's budget.
She added that this situation applies to all customers of the complex, as they are forced to pay because they live in it, noting that the residents of the complex asked the company to receive the installments in dinars, but it refused.
In turn, the citizen Barzan Mahmoud believes in his interview with "Al-Sabah" that the requirement to pay the residential complexes' installments in dollars led to a delay in my purchase of a housing unit, especially after the increase in its prices against the dinar, in addition to the limited salary.
He noted that the Investment Authority in the region must find a solution with the owners of residential complexes and issue a decision requiring them to receive the installments in dinars so as not to confuse the citizen during the payment process, in addition to the importance of providing sufficient housing complexes for people with limited income to be able to buy.
For his part, the academic specializing in finance and accounting, Nabard Karim from the Technical University in Sulaymaniyah, stated in a statement to "Al-Sabah": that the Kurdistan Region Investment Authority issued a decision that forces investment companies for residential complexes to pay the installments at the official exchange rate set by the government at 1332 dinars to one dollar, similarly. With the Federal Investment Authority, it will have more than one benefit.
And he indicated that the first of these benefits enables the citizen to pay his installments and does not have to buy dollars from the market, as the increase in demand leads to an increase in its prices, in addition to that paying in dinars will push the citizen to buy apartments and houses, because he is assured that no emergency will occur that confuses his financial budget, in addition to That this measure will support the dinar.
He stressed that we have seen this matter through one investment company following this procedure and voluntarily on its own, which led to the demand for sales of its residential complexes and the regularity of its customers to pay the monthly installments without delay.
Edited by: Ali Mouafaq
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