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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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    80% of real estate purchases in Iraqi Kurdistan capital made by Arabs

    Rocky
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    • Post n°1

    80% of real estate purchases in Iraqi Kurdistan capital made by Arabs Empty 80% of real estate purchases in Iraqi Kurdistan capital made by Arabs

    Post by Rocky Mon 27 Jun 2016, 6:12 am

    80% of real estate purchases in Iraqi Kurdistan capital made by Arabs
    Posted on [You must be registered and logged in to see this link.] by [You must be registered and logged in to see this link.] in [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.]
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    Erbil, the capital city of Iraqi Kurdistan. Photo: Doctorandus Sarajevo/flickr
    HEWLÊR-Erbil, Kurdistan region ‘Iraq’,— Demand for real estate by displaced Arabs living in Iraqi Kurdistan capital city of Erbil has increased by 20 percent in recent years. According to locals 8 out of every 10 property purchases are made by Arabs.
    “The buying and selling of real estate among Arabs [in Erbil] has increased. Those who are rich would like to buy land and houses, especially after the question of independence has risen,” among the Kurdish leaders this year, the owner of a real estate office in Erbil told Rudaw.
    Masoud Barzani announced recently that the referendum would go ahead as planned before the end of 2016.

    Qahtan, who asked for his second name not to be revealed, is a refugee who has lived in Erbil for two years now. He believes the reason for large demands on real estates by Arabs in Kurdistan is due to the regions stability.
    “Arabs would like to buy land and house in the Kurdistan Region given the fact that the rest of Iraq does not enjoy the kind of stability this region has, that is why all Arabs are coming to Kurdistan,” Qahtan said.
    Qahtan also noted that “economic conditions here are much better than Baghdad.”
    According to the constitution anyone who holds Iraqi citizenship can buy and sell real estate in the country’s 19 provinces.
    Arabs buying property in Erbil need to get approval from security and administrative departments of the city before they can buy and register properties.

    The main goal in allowing Arabs to buy property in Erbil is “to bring in money from outside and make a market in Erbil and the Kurdistan Region,” Tahir Abdulla, deputy governor of Erbil, told Rudaw.
    On July 16, the Sulaimani Provincial Council also issued a [You must be registered and logged in to see this link.] saying that real estate and other property could be registered in the names of Iraqi Arabs and other foreign citizens on the condition that they had been vetted by local security.
    This move paves the way for the boost of market and economy in the Kurdistan Region after it has been hit hard by the economic crisis that was brought about after Baghdad cut its national budget share early in 2014, which was also followed by a sharp decline in the price of oil and the costly ongoing war against the Islamic State (IS).

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