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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


    The housing crisis is deepening and housing unit prices are astronomical

    Rocky
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    • Post n°1

    The housing crisis is deepening and housing unit prices are astronomical Empty The housing crisis is deepening and housing unit prices are astronomical

    Post by Rocky Today at 6:42 am

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    [size=52]The housing crisis is deepening and housing unit prices are astronomical[/size]
    • Today 13:33

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    Information/Report.. 
    The construction revolution in the housing sector in Baghdad and the governorates is expanding day after day, and it is met with an increase in the rates of the housing crisis. This increase has many causes, and the government bears the largest part of this problem. 
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    The terrifying rise in real estate prices in Baghdad and the provinces has been a shock to the class of employees and those with limited incomes, and even the middle class has become unable to provide enough money to buy an apartment or a plot of land, even with an area not exceeding 100 square meters. The matter is not limited to floors and lands, but even investment residential complexes, which also record terrifying numbers, and from here the citizen can no longer even dream of owning a private property.
    Real estate office owners attribute the crazy rise in real estate and investment housing units to the fear of capital owners to put their money in banks because the accounts are overdrawn and they fear the issue of where you got this from, which prompted them to invest their money in buying land and real estate of all kinds, which led to this rise, and therefore the government must have a role.

    Iraq needs to build 3 to 3.5 million housing units to reduce the chronic crisis in this sector, while the Ministry of Planning confirms that "Iraq has been witnessing a housing crisis for several decades due to the lack of large projects that meet citizens' housing needs, coinciding with a significant increase in population numbers annually, while the current gap is estimated at around three million housing units," according to the ministry's spokesman, Abdul Zahra Al-Hindawi.
    Deputy Chairman of the Investment and Economy Committee, MP Suzan Mansour, called on the government to intervene directly and reconsider the mechanisms for granting investment licenses for residential projects and to put an end to the insane increase in the prices of residential units granted for investment. 
    Mansour told Al-Maalouma Agency, "What the capital Baghdad and the rest of the provinces are witnessing in terms of a wide-ranging construction movement to build residential units and complexes, the lands of which have been granted by the state, is a joyful matter. However, at the same time, we are witnessing a crazy increase in the prices of residential units, which the middle and poor classes cannot afford to buy any unit, in addition to the lack of financial support from government banks." 
    She added that "the citizen has the right to own a housing unit at reasonable prices supported by the state, especially since the lands on which the projects are built belong to the state and the citizen has a right to them, indicating that "the state of speculation among capitalists in buying and selling housing units has also contributed to raising prices in an unreasonable manner." 

    Mansour called on the government to intervene directly and reconsider the mechanisms for granting investment licenses for residential projects, with the setting of price limits that will in turn contribute to supporting the citizen. Otherwise, we will resort to questioning the head of the Investment Authority before the House of Representatives.
    For his part, member of the Parliamentary Investment Committee, Mohammed Al-Ziyadi, confirmed in a statement that the focus on residential investment is due to its high profits, which reach 300%.
    He explained in a statement to Al-Maalouma Agency that the investor obtains these high profits despite giving the land for free and providing all facilities to him in order to solve the housing crisis.
    He stressed that the crisis has not been resolved yet, because prices are not within the capacity of people with average and above-average incomes.
    It is noteworthy that the prices of residential units in the distinguished and non-distinguished areas ranged between 350 thousand dollars and half a million dollars. End / 25m
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