Record high for house rents in Baghdad
[You must be registered and logged in to see this link.] [You must be registered and logged in to see this link.] [You must be registered and logged in to see this link.] [You must be registered and logged in to see this link.]
Economy News - Follow-up
71 views
Added 2024/09/30 - 11:02 AM
[You must be registered and logged in to see this link.]
[You must be registered and logged in to see this image.]
[You must be registered and logged in to see this link.] [You must be registered and logged in to see this link.] [You must be registered and logged in to see this link.] [You must be registered and logged in to see this link.]
Economy News - Follow-up
The Iraqi capital, Baghdad, is witnessing a significant increase in rental prices, whether for homes, company offices or shops, which has led Iraqis to leave the capital and seek refuge in its administrative outskirts or other governorates, as Baghdad is unique in its exorbitant rental prices.
Each area in Baghdad has its own prices. House prices in the Karrada neighborhood next to Rusafa range between $800 and $1,500, while apartments range between $500 and $800. But in the Yarmouk neighborhood next to Karkh, rents are higher, with some houses reaching $3,000 a month. However, these numbers decline in some popular and poor neighborhoods, such as Al-Bayaa, Al-Dora, and others.
Baghdad is unique in its high rental prices, unlike all the country’s governorates where the rental price of a house or apartment does not exceed the normal limit, which is less than $300. Observers attribute the high rental prices in the Iraqi capital to population density and the shortage of housing units, not to mention the entry of money laundering into the real estate trade, which has significantly raised the prices of buying, selling and renting.
The gap in the housing sector in Iraq is estimated at more than two and a half million housing units, to meet the need or demand for housing, in light of the continuous population increase of more than one million people every year, which has caused prices to rise as a result of the increasing demand with the scarcity of supply in the real estate market.
Slums in Baghdad:
The spokesman for the Iraqi Ministry of Planning, Abdul Zahra Al-Hindawi, said that “the capital, Baghdad, is the most in need compared to the rest of the governorates, due to its population weight, which is estimated at more than 9 million people,” explaining to “Al-Araby Al-Jadeed” that “this density leads to the birth of slums in some areas, and it also increases the rental prices of houses and apartments, so the government’s direction is moving towards building new residential cities that meet the need for housing units.”
The spokesman for the Iraqi Ministry of Planning, Abdul Zahra Al-Hindawi, said that “the capital, Baghdad, is the most in need compared to the rest of the governorates, due to its population weight, which is estimated at more than 9 million people,” explaining to “Al-Araby Al-Jadeed” that “this density leads to the birth of slums in some areas, and it also increases the rental prices of houses and apartments, so the government’s direction is moving towards building new residential cities that meet the need for housing units.”
However, the Iraqi Ministry of Construction and Housing had previously estimated that Iraq needs about 3 million housing units to reduce or address the stifling housing crisis in Iraq, which represents a future challenge for governments in light of the high population growth. This crisis prompted the current government to issue loans to build housing units, but Iraqis are struggling with ways to obtain plots of land, especially since what is available is agricultural land, while residential land is constantly rising in price.
Falah Ali (54 years old), who lives in a rented house in Al-Mansour, Baghdad, says, “Rental prices are very high in Baghdad, compared to Erbil, where the rent of a house reaches a thousand dollars, while in the Kurdistan region in the north of the country, it does not exceed 400 dollars.” He confirmed to “Al-Araby Al-Jadeed” that “the parties are involved in the rise in house selling and renting prices, because they have taken over the real estate sector and have begun to buy large numbers of houses in upscale areas in order to launder their stolen money from public funds.”
Ali added, "The governments did not think of establishing a mechanism to unify or regulate the process of selling and renting homes, shops, or real estate in general. Rather, they, through the participating parties, devoted themselves to exploiting all state resources and converting them into private property, then buying real estate for high sums, which led to an increase in prices."
According to the Iraqi Ministry of Construction and Housing, work is underway to complete 16 housing projects, within the low-cost housing, and the housing units completed for these projects are being distributed among the categories specified in the National Housing Council, which are segments of employees with average incomes.
The ministry is talking about two generations of new residential cities. The first generation includes five cities (Al-Jawahiri, Ali Al-Wardi, Al-Ghazlani, Dafaf Karbala, and Al-Janain). These cities will support the housing sector with more than 225,000 housing units.
The second generation will be in 6 cities (Al-Majar Al-Kabir in Maysan, Al-Warka in Al-Muthanna, Al-Balad in Salah Al-Din, Ur in Dhi Qar, Al-Salam in Najaf, and Al-Mutanabbi in Wasit). The ministry seeks to provide a large number of sustainable housing units within cities where urban land uses are integrated with an economic basis in these cities, and to contribute to withdrawing high population densities from within the centers to these new cities.
The role of political money
: For his part, Iraqi researcher Mohammed Omran said, “The government does not abide by any law regulating rental mechanisms and prices, and there is a large disparity between one region and another, knowing that most Iraqi regions lack services, including upscale areas, but political money is what drives this file,” noting to Al-Araby Al-Jadeed that “there is a real need to put in place mechanisms that prevent property owners from raising prices annually.”
: For his part, Iraqi researcher Mohammed Omran said, “The government does not abide by any law regulating rental mechanisms and prices, and there is a large disparity between one region and another, knowing that most Iraqi regions lack services, including upscale areas, but political money is what drives this file,” noting to Al-Araby Al-Jadeed that “there is a real need to put in place mechanisms that prevent property owners from raising prices annually.”
Housing is a legitimate right guaranteed by the Iraqi constitution in Article 30, which obliges the state to provide social and health security and to provide suitable housing and income. However, Iraqis do not obtain this right. Rather, the demand for housing and a decent life was one of the basic demands of Iraqis in the protests that erupt from time to time.
According to legal expert Ali Al-Tamimi, “the high rent prices require a law, and Iraq is the highest country in the world in terms of rent and housing prices, and eliminating this phenomenon is done by making the rent rate appropriate to the citizen’s income and eliminating greed,” explaining that “the high rent prices have caused many cases of suicide and divorce.”
71 views
Added 2024/09/30 - 11:02 AM
[You must be registered and logged in to see this link.]
Today at 7:11 am by Rocky
» Central Bank Sells Over $263 Million in Auction Today
Today at 7:09 am by Rocky
» Market Forces Committee recommends holding an Iraqi-Turkish forum in Baghdad
Today at 7:07 am by Rocky
» The Central Bank determines the commission of exchange companies for selling the dollar
Today at 7:05 am by Rocky
» House of Representatives amends tomorrow's session agenda
Today at 7:03 am by Rocky
» Internal and external debts "exhaust" the Iraqi budget, and experts diagnose the reasons
Today at 7:00 am by Rocky
» "One of the doors of corruption" .. Parliamentary Transportation Committee criticizes the food file
Today at 6:58 am by Rocky
» House of Representatives amends agenda for tomorrow's session
Today at 6:56 am by Rocky
» Market Forces Committee recommends holding an Iraqi-Turkish forum in Baghdad
Today at 6:53 am by Rocky
» Interior: We have concluded more than 10 different contracts with the military industry
Today at 6:50 am by Rocky
» Director of Iraqi Ports issues directives to Umm Qasr Port Management
Today at 6:49 am by Rocky
» Drafting a draft law to regulate electronic payment
Today at 6:47 am by Rocky
» Al-Sadiqoun to the Foreign Ministry: Why did the Iraqi representative to the United Nations not with
Today at 6:44 am by Rocky
» Mr. Al-Hakim to the British Ambassador: The international community bears the responsibility to prev
Today at 6:42 am by Rocky
» In detail.. Transport announces the completion of all sections of the five berths project within the
Today at 6:40 am by Rocky
» Developing a new method for recycling plastic waste
Today at 5:21 am by Rocky
» Popular movement criticizes the position of the Ministry of Foreign Affairs on what is happening in
Today at 5:20 am by Rocky
» Parliamentary Committee Supports Imposing Collection Fees on Services
Today at 5:19 am by Rocky
» Politician: Parliament presidency negotiations have been limited between Progress and the Framework
Today at 5:18 am by Rocky
» Parliamentary Security announces its follow-up to the agreement with the coalition forces regarding
Today at 5:17 am by Rocky
» MP: Our ability to combat airspace violations has tripled
Today at 5:16 am by Rocky
» After the Baghdad-Washington agreement... fears of American evasion to continue the presence of its
Today at 5:14 am by Rocky
» Governmental move to implement new infrastructure projects
Today at 5:13 am by Rocky
» Iraqi Army Prepares.. High-Level Security Meeting to Confront "Any Emergency" (Video)
Today at 5:11 am by Rocky
» Al-Haims expects lifting of "sanctions" on Iraqi banks: No violations proven
Today at 5:08 am by Rocky
» With a length of 37 km.. Water Resources completes the dredging and purification of the Sabla dirt s
Today at 5:07 am by Rocky
» Record high for house rents in Baghdad
Today at 5:06 am by Rocky
» Market Forces Committee recommends holding an Iraqi-Turkish forum in Baghdad
Today at 5:04 am by Rocky
» The presence of "explosive materials" in Iraqi ports raises controversy... What is happening?
Today at 5:03 am by Rocky
» Iraq ranked 64th globally in the hunger index last year
Today at 5:02 am by Rocky
» Law to regulate {electronic payment}
Today at 5:00 am by Rocky
» New infrastructure projects
Today at 5:00 am by Rocky
» Government Real Estate Statistics
Today at 4:58 am by Rocky
» big goal
Today at 4:57 am by Rocky
» The President of the Republic and the Prime Minister call for unifying ranks and words
Today at 4:56 am by Rocky
» Government completes diplomatic action plan
Today at 4:55 am by Rocky
» Completion of 11 industrial investment projects in Najaf
Today at 4:54 am by Rocky
» {Service Government} has proven its effectiveness in word and deed.
Today at 4:53 am by Rocky
» Al-Sudani discusses regional situation with EU representative
Today at 4:51 am by Rocky
» Implementation of 50 service projects in Maysan
Today at 4:50 am by Rocky
» Transport coordinates internationally to develop the performance of Iraqi Airways
Today at 4:49 am by Rocky
» Parliamentary Education Committee expects {Sabah} to discuss the third round and critical grades pro
Today at 4:48 am by Rocky
» Soon.. Opening of two strategic projects in Baghdad and Wasit
Today at 4:47 am by Rocky
» Justice begins census of government properties
Today at 4:46 am by Rocky
» Minister of Resources to {Al Sabah}: Giant projects will provide large quantities of water
Today at 4:45 am by Rocky
» Ruling out early parliamentary elections... Mahmoud Othman: Kurds "still" support Al-Sudani's govern
Today at 4:43 am by Rocky
» Among them is the Director of Nationality and Passports.. Lists of names of those included in the pr
Today at 4:40 am by Rocky
» As if he bought them from a "slave market".. Arrest of a man accused of "buying" foreign female work
Today at 4:38 am by Rocky
» Roads and Bridges Department: There are those who inflame public opinion and distort our achievement
Today at 4:37 am by Rocky
» Iraqi Reading: The Middle East Faces Two Choices and Israel Will Not Stop Escalation - Urgent
Today at 4:35 am by Rocky
» Al-Sudani decides to postpone his official visit to the United Kingdom
Today at 4:34 am by Rocky
» Barzani's party responds to Pavel Talabani: You run half of the region and respect the feelings of o
Today at 4:32 am by Rocky
» Factions: The bullet to confront the invasion of Lebanon will be Iraqi and our missiles are ready
Today at 4:31 am by Rocky
» New instructions from the Iraqi Embassy in Damascus to Iraqis and Lebanese
Today at 4:30 am by Rocky
» Iraqi oil opens trading this week with a rise in global markets
Today at 4:28 am by Rocky
» MP: Border security has reached its final stage
Today at 4:26 am by Rocky
» “Mobile phones are prohibited inside polling stations”.. Kurdistan Interior Ministry issues decision
Today at 4:25 am by Rocky
» "Factions" doubt US withdrawal from Iraq and demand inclusion of 3 points in the "new agreement"
Today at 4:24 am by Rocky
» Migration drains Christian presence in Iraq.. Security, economy and government representation are th
Today at 4:22 am by Rocky
» Retirement to Al-Zawraa: E-governance has ended paperwork and bureaucracy and achieved a shift in ou
Today at 4:21 am by Rocky
» Investment devours the green... Nineveh loses half of its agricultural lands in a random race for pr
Today at 4:20 am by Rocky
» Social assistance and scholarship salaries to be released next Tuesday
Today at 4:19 am by Rocky
» 6 items on the parliament's agenda tomorrow, Tuesday
Today at 4:15 am by Rocky
» Parliamentary Education: The failure rate of the sixth preparatory school is high.. and we are worki
Today at 4:14 am by Rocky
» Here are the dollar prices in the Iraqi stock exchanges
Today at 4:12 am by Rocky
» Arrest of a man accused of buying foreign workers and abusing them in Baghdad
Today at 4:11 am by Rocky
» Ending the mission of the international coalition in Iraq.. the stage of "freezing tension" and a ne
Today at 4:10 am by Rocky
» MM&C 9/29/24 What would happen to the Iraqi dinar if the zeros were removed? Comment by Dr. Mahmoud
Yesterday at 4:13 pm by Rocky
» MM&C 9/29/24 What after the closure of the currency auction at the Central Bank of Iraq?
Yesterday at 11:48 am by Rocky
» MM&C 9/29/24 "THE EXPECTED PATH OF THE IRAQI ECONOMY"
Yesterday at 7:14 am by Rocky
» utube 9/28/24 MM&C IQD Update News -Iraq PM - $83 Billion 3 Years - Stability - Global Contracts -
Yesterday at 7:12 am by Rocky
» utube MM&C 9/26/24 Iraq Dinar News-Iraq Plans Redenomination of Currency-Value of it Related-Elect
Yesterday at 7:11 am by Rocky
» Advisor to the Prime Minister rules out a decline in gold prices in the coming period..and explains
Yesterday at 7:03 am by Rocky
» Legal expert: If it weren't for the Security Council's collusion, the Zionist entity would have been
Yesterday at 6:59 am by Rocky
» Minister of Planning announces field progress in preparations for the census
Yesterday at 6:58 am by Rocky
» Proposal before the government to form an economic and security crisis cell
Yesterday at 6:56 am by Rocky
» Al-Karawi: The government's ignoring of the resistance's request is a betrayal of the blood of the m
Yesterday at 6:55 am by Rocky
» Iraq is the fourth largest importer from Türkiye during the past month
Yesterday at 6:53 am by Rocky
» The Prime Minister directs that Lebanese citizens wishing to come to Iraq be granted fast travel doc
Yesterday at 6:50 am by Rocky
» US releases founder of cryptocurrency exchange Binance
Yesterday at 6:48 am by Rocky
» The Central Bank of Iraq issues a warning to exchange companies regarding the sale of dollars
Yesterday at 6:46 am by Rocky
» The Central Bank of Iraq sells more than $ 258 million in today's auction
Yesterday at 6:45 am by Rocky
» Launching of aid and scholarship salaries this week
Yesterday at 6:43 am by Rocky
» Karbala begins implementing 154 projects
Yesterday at 6:42 am by Rocky
» Next Tuesday.. Closing of the application for the central admission form
Yesterday at 6:40 am by Rocky
» Service effort: Including the capital and 4 governorates in next year’s plans
Yesterday at 6:39 am by Rocky
» Rafidain Bank issues instructions for granting real estate loans
Yesterday at 5:25 am by Rocky
» The expected path of the Iraqi economy
Yesterday at 5:23 am by Rocky
» Experts: Population census shapes economic policies and directs investments
Yesterday at 5:22 am by Rocky
» Central Bank records more than $1 billion in currency sales in a week
Yesterday at 5:20 am by Rocky
» The Central Bank of Iraq warns exchange companies that sell dollars to travelers from receiving a co
Yesterday at 5:19 am by Rocky
» Iraq under the microscope.. Will Baghdad succeed in avoiding regional conflict after the assassinati
Yesterday at 5:17 am by Rocky
» Al-Sudani makes a phone call to the Lebanese Prime Minister
Yesterday at 5:14 am by Rocky
» How will developments in Lebanon affect the Iraqi economy and the oil market?
Yesterday at 5:13 am by Rocky
» The position of the Speaker of Parliament and developments in the region on the table of Masoud Barz
Yesterday at 5:06 am by Rocky
» Targeting of an American base in Syria by Iraqi factions
Yesterday at 5:05 am by Rocky
» Official: Border shelling targeted Iraqi faction, reports of casualties
Yesterday at 5:04 am by Rocky
» How much is Iraq's external debt in light of the fluctuation in oil prices?
Yesterday at 5:02 am by Rocky
» Iraq is not far from war.. Will the factions enter into a confrontation with Israel?
Yesterday at 5:01 am by Rocky