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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 expanding the scope of loans... Will the government succeed in controlling the housing crisis?

    Rocky
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    • Post n°1

    By expanding the scope of loans... Will the government succeed in controlling the housing crisis? Empty By expanding the scope of loans... Will the government succeed in controlling the housing crisis?

    Post by Rocky Sun 22 Sep 2024, 7:16 am

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    [size=52]By expanding the scope of loans... Will the government succeed in controlling the housing crisis?[/size]
    • Today 14:00




    Information/Baghdad..
    The government seeks to address the stifling housing crisis in the capital, Baghdad, by establishing new residential cities and providing affordable housing loans to citizens to help them build housing units.
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    During the past months, the government announced the establishment of 120,000 housing units distributed across the governorates of Baghdad, Nineveh, Babylon and Karbala.
    Despite the government's attempts to bridge the gap between population increases estimated at about one million people annually and the lack of housing units, the existing gap related to the housing crisis is widening.
    Iraq is suffering from a severe shortage of housing units with the high cost of living in the country, as many citizens are forced to live in rentals amid the difficulty of buying a home.
    The Ministry of Construction and Housing announced that Iraq needs two million housing units to overcome the housing crisis, but it has not succeeded during this long period in meeting the demand for even a quarter of the indicated number.

    Official and semi-official statistics estimate that Iraq needs about 3 million housing units, which has been reflected in an unprecedented rise in housing unit prices.
    The price of a square meter of land in most city centers and governorates exceeds $3-5 thousand, which forces about a quarter of the population, especially the poor and those with low incomes, to live in slums, which are estimated at more than 250 thousand slum units, most of which are concentrated in the governorates of Baghdad and Basra.
    MP Mohammed Al-Khafaji revealed 4 most important amendments to the Housing Fund Law.
    Al-Khafaji told Al-Maalouma, "The Services Committee held an important meeting to discuss amendments to the Housing Fund Law, as it is one of the laws that concerns broad segments of the country. He pointed out that the amendments that were discussed are limiting housing loans to citizens only and not to investment companies as in the past, and canceling the condition of a guarantor while reducing the condition that the land area be more than 100 square meters."
    He explained that "the committee is discussing that the owner of the 70-meter area is eligible for a housing fund loan."

    Amending the Housing Fund Law is an important topic to create flexibility in disbursing loans and include larger segments of citizens.
    The Parliamentary Services and Reconstruction Committee announced the inclusion of increased amounts and numbers of citizens beneficiaries in the Housing Fund Law.
    Committee member Haider Sheikhan told the official newspaper that “the Housing Fund Law aims to provide support to citizens,” noting that “meetings regarding the first article of the law reached an agreement stipulating that all Iraqis in the provinces not affiliated with the region be included in the law.”
    He pointed out that "the law will be presented for a second reading soon," stressing that "the law included raising the ceiling of amounts, in addition to increasing the number of citizens benefiting from the fund." End/25Q
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