expected economic circles that the real estate market in Iraq is growing in the coming period due to the steps and decisions that can cause a quantum leap in its activities, in the event of activation of these measures and decisions in the form of sound, especially as it is associated with a lot of investment projects under implementation, what constitutes the beginning of the activity and large includes several related sectors.
and has announced controls the allocation of residential land to citizens by the government through installments and soft terms, of particular importance to the inclusion of the same controls large segments of society, what they regarded as interested in addressing radical to the housing crisis deepening, which withdrew its effects on the lives of citizens who are suffering difficulties that prevent possession or hired a residence as a result of higher prices not in accordance with the vast majority income.
experts explained that the allocation of residential land to citizens will provide many job opportunities for professionals and artisans in the event of activation of the launch of the housing loan , and will contribute to the bypass if the recession continued for years as a result of the exceptional circumstances experienced by the Iraqi economy and declining sectors productivity levels.
the Iraqi government approved this year to lend to private housing fund mechanisms loans the central bank's 5 trillion dinars , about $ 4 billion, and stipulated that the distribution mechanism loans standard adoption population ratio and the degree of poverty for each province, and shall not exceed the loan of KD 50 million paid to the beneficiary.
accompanying the launch of the distribution of land to citizens the launch of the electronic program industrial, agricultural and residential loans.
He predicted Vice President «Iraqi businessmen Union» spokesman Antoine in an interview with the «life» that «there is the effects of the important steps taken in the field of distribution of land to citizens and facilitate their access to the necessary loans for the construction of the role of housing for them, or for other loans related to thesupport of industrial, agricultural and service projects».
He added: «the Iraqi market is now in dire need of activating these steps to activate the productive activity in thecountry, especially for the construction industry , such as cement, bricks, one of the sectors of the economy which ischaracterized by the diversity of branching by the complexity of economic activity with other occupations. »
He pointed out that« these sectors combined can occupy large numbers of unemployed, Besides creating a new economic cycle and access to the stage of recovery in relation to the real estate market and the possibility ofrecovering them from the case hibernate in which they live, especially the real estate sector is not linked to his widely Contractors sector directly related to real estate and housing sector, and is expected to grow as a result of the provision of new opportunities Activity in case the payment of overdue Contractors of the ministries. »
Antoine pointed out that« the construction sector and construction is directly related to the market movement and activity of the relevant sectors, and needs financial liquidity that can cause the quality of the leap ».
He predicted that« see the next phase of recovery due to significant steps have been taken, most notably move thecluster of large cash by lending and employment mechanism in the broad and important sector has a direct link to the lives of citizens. »
the war against al« Daash »and the decline in world oil prices, caused the depletion of country 's financial capabilities, which form an important reason for the decline in performance of the economy and activating thefiscal austerity measures to face the difficult phase requirements.
He attributed the Followers of the activity of the real estate market slump to a decline in government spending as aresult of lower activity in many walks of life, especially the decline in financial returns for citizens who have beenforced in turn to austerity.
He quoted Iraqi merchants in Baghdad as saying that the daily sales fell by a large margin in nearly two years, since dropped from 7 million dinars per day to about 500 thousand dinars , or less, after most of the citizens to reduce their purchases.
He noted among other dealers in «beautiful» market President in eastern Baghdad to their suffering over the past year since the occupation of «Daash» large areas of northern Iraq and west.