The housing crisis is expanding and planning confirms: Iraq needs 3 million housing units to solve i

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[size=52]The housing crisis is expanding and planning confirms: Iraq needs 3 million housing units to solve it[/size]

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[size=45]The Ministry of Planning confirmed that there is a gap in the housing sector at the level of all governorates of Iraq, noting that “the country’s actual need for housing units is estimated at approximately (3) million housing units to solve the crisis.”
[size=45]The spokesman for the Ministry of Planning, Abdul Zahra Al-Hindawi, said during an interview with (Al-Mada), that “Iraq suffers from a gap in the housing sector,” noting that “it is not new, but rather a gap that began to take root since the eighties of the last century, when large projects in the housing sector stopped.” As a result, with the increase in population, this gap was widening.” He added, “Iraq’s actual need for housing units is estimated at approximately (3) million housing units, and Baghdad has the highest share as it represents the largest population bloc in the country.” Regarding the reasons for the rise in real estate prices, Al-Hindawi explains that “the rise in real estate prices results from a crisis according to the economic theory of supply and demand. The less the supply, the higher the prices and vice versa.” He explains, “There are great efforts being made to address the housing crisis according to plans drawn up within this framework.” The ministry spokesman continues, “The new strategy to solve the housing crisis is to establish residential cities and not distribute plots of land,” pointing out that “cities have all the requirements for living available, unlike lands that lack services.” Al-Hindawi continues, “There is a project to build quite a few housing units in different stages at the level of the capital, Baghdad, as well as other governorates, according to the current and future need of each governorate.” It is noteworthy that the Iraqi Prime Minister's Office announced last year investment opportunities for five new residential cities, in an effort to reduce the housing crisis that has been raging in the country for decades.[/size]
[size=45]For his part, the economic expert, Muhammad Al-Muhammadi, said during an interview with (Al-Mada), that “Iraq is witnessing rapid population growth, which has led to an increase in demand for housing,” noting that “periods of political and security instability have hampered construction and reconstruction efforts.” He adds, “The lack of good government planning for the housing sector is what has caused the accumulation of problems,” noting that “the lack of infrastructure in many areas has made it unattractive for housing or real estate investment.”[/size]
[size=45]Al-Mohammadi explains, “The effects that resulted from the aggravation of the housing crisis are the rise in real estate prices and rents and the increase in the number of slums that lack basic services, as well as a decline in the standard of living and an increase in poverty.”[/size]
[size=45]Regarding possible solutions to address the housing crisis, the economist explains, “National housing policies must be developed that aim to encourage construction and provide suitable lands for residential construction,” pointing to “providing soft loans to companies and individuals with the aim of building housing, and establishing new financing institutions to support the housing sector.” . He continues, “Among the solutions is to focus on social housing, building housing units for people with limited income, and allocating land to build affordable housing,” calling for “building policies that encourage planned urbanization instead of randomness.”[/size]
[size=45]Al-Mohammadi continues, “Addressing the housing crisis will lead to enhancing social and economic stability, improving living standards, providing job opportunities in the construction and real estate sector, enhancing trust between citizens and the government, and reducing social tensions.”[/size]
[size=45]The housing problem in Iraq is worsening very quickly, in a country where the growth rate is 3% annually, and the problem is largely concentrated in the capital, Baghdad, in light of the absence of a population census that accurately shows the extent of the problem and the extent of the citizens’ actual need. Real estate prices are witnessing a huge rise in the capital, Baghdad, in a suspicious manner that some associate with money laundering operations, which leaves the middle-income class unable to find decent housing.[/size][/size][/size]

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