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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

Many Topics Including The Oldest Dinar Community. Copyright © 2006-2020


    By an American decision, the new rich are inflaming real estate prices with their "strange money"...

    Rocky
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    By an American decision, the new rich are inflaming real estate prices with their "strange money"... Empty By an American decision, the new rich are inflaming real estate prices with their "strange money"...

    Post by Rocky Mon 14 Aug 2023, 8:47 am

    By an American decision, the new rich are inflaming real estate prices with their "strange money"... Baghdad is a model
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    Baghdad today - Baghdad 
    The economic expert, Abd al-Rahman al-Mashhadani, confirmed, on Monday (August 14, 2023), that an American decision is the most important reason behind the wave of high real estate prices in Baghdad.
    Al-Mashhadani told "Baghdad Today", that "the US Federal Reserve system punished four Iraqi politicians in 2018, which prompted many politicians to transfer their financial investments from abroad to the inside."
    He added, "From this step, a wide wave of real estate purchases began in various regions of the capital, Baghdad, at a pace that led to an unprecedented wave of high prices."
    For example, in the al-Jamaa neighborhood, the price per square meter was 1,300,000 dinars, which rose to more than 3 million dinars at an average rate, according to al-Mashhadani, who also said that there are areas where prices have multiplied several times.
    Black money and question marks 
    He pointed out that "the black money, whose origin is unknown, is behind the huge wave of high prices in the capital."
    He pointed out that "there are many question marks about the identity of those who are buying and to which party they belong and how they got this huge money." 
    Despite the series of economic crises that Iraq has gone through since the start of the Corona pandemic until now, this matter did not affect the real estate market, to achieve large buying and selling operations that made it the most attractive to businessmen and illegal funds that come from commodity and oil smuggling operations, drug trade and corruption operations. Administrative .
    A large segment of the newly wealthy, who are the result of various economic dealings with Iraqi state institutions that are marked by many suspicions in recent times, have tended to buy real estate for large amounts in high-end neighborhoods within the capital, causing prices to rise several times during one year .
    New controls
    On April 18, 2023, the Central Bank of Iraq announced its decision to supervise the sale of real estate through banks, in coordination with the real estate registration departments, to prevent money laundering .
    The Central Bank stated that the sale of any real estate whose value exceeds 500 million Iraqi dinars ($378,000) will be conditional on putting the money in banks and giving notice to the Real Estate Registration Department before starting the property transfer transaction.
    This step will include all real estate sales and purchases during the coming months, according to the Central Bank of Iraq, which called on Iraqi banks not to facilitate these operations and not to deduct large sums from real estate dealers.
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