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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

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    What are the reasons for the recession in the real estate market? An expert expects it to decline

    Rocky
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    What are the reasons for the recession in the real estate market? An expert expects it to decline Empty What are the reasons for the recession in the real estate market? An expert expects it to decline

    Post by Rocky Today at 4:45 am

    What are the reasons for the recession in the real estate market? An expert expects it to decline

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    Economy News - Baghdad
    [rtl]The head of the Iraq Future Foundation, Engineer Munar Al-Obaidi, confirmed that the reason for the stagnation in the real estate market is the high prices of real estate units, which will result in a very large decline in the prices of residential units.[/rtl]
    [rtl]Al-Obaidi said, "Unfortunately, there is no clear data issued by the authorities responsible for regulating sales contracts, but the general situation indicates weak sales in general and that owners of residential units are sticking to prices without trying to re-price them, believing that this stagnation is temporary and the result of geopolitical and economic disturbances that led to this stagnation."[/rtl]
    [rtl]He added, "All indicators confirm that this recession is caused by the abnormal prices of real estate and land in Iraq, which did not result from the theory of supply and demand, but rather for reasons related to money laundering operations and illegal funds that contributed to the increase in demand for real estate regardless of the real demand."[/rtl]
    [rtl]Al-Obaidi pointed out that "this recession will continue and will lead to a review of the pricing policies for residential units, and we will witness a decline in the prices of units unless they are saved through long-term, low-interest government real estate loans that contribute to supporting the sale of these residential units and maintaining prices to some extent."[/rtl]
     
    [rtl]He explained that "during the coming period there will be a decline in the prices of housing units supported by a decline in demand resulting from the absence of dubious sources of funds, as well as an increase in housing units. This decline may be delayed in major governorates such as Baghdad, but it will certainly be faster in many other governorates."[/rtl]
     
     
     


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