- Today 12:12
The researcher in economic affairs, Muhammad Al-Saadi, warned today, Friday, of the repercussions of the continued rise in real estate prices in Baghdad, pointing out that there is an urgent need for the government to find new serviced areas to eliminate the housing crisis.
Al-Saadi told Al-Maalouma, "Real estate prices may not witness any decrease in the current period, but rather they are likely to rise slightly or remain in their current state."
He added, "The rise in real estate prices is due to the fact that most of the capital's regions have witnessed division in the original areas of the houses, which will lead all regions to division, leading to the stage of achieving complete division of homes and their unavailability, due to the lack of finding new residential areas."
And he indicated that "the increase in the population is one of the factors that pushes towards the independence of individual living for each family, and therefore there is a continuous demand for real estate, at a time when governments were unable to find new residential areas suitable for the population increase."
He pointed out that "the resort of the corrupt and those who have money to the real estate market is one of the main reasons for the high prices, especially after the strict measures that prevented the owners of the money from placing it in foreign banks." ended 25 n
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