[size=37]The real estate market in Iraq is witnessing a recession and the government's attempts to advance its[/size]
Baghdad Journal News
real estate market stagnated during the current period due to the financial crisis that hit thecountry as a result of falling oil prices and the war on organizing Daesh.
The owner of the office for the sale of real estate in Baghdad, Mohammed al-Dulaimi's (Journal News), "The real estate market is experiencing economic recession due to the financial crisis in the country," stressing that "the launch of the bank loans related to real estate market is going to move."
He explained that "prices per square meter in the east of Baghdad, it fell by 400,000 dinars after it was priced more than a million and a quarter of a million dinars, and now the price is almost 850 000 dinars," calling on the Iraqi state to "solve the housing crisis by setting up housing complexes and the distribution of land to the citizens."
On the other hand, the owner of Real Estate Office Karim al-Rubaie said, for (Journal News), "The real estate market is witnessing volatility is very clear and controlled chaos, where the house in which an area of very few not exceed one hundred meters a price much more expensive than a home that area exceeds 200 meters ".
He pointed out that "the recession affects the real estate sector now because of the financial crisis afflicting the country since 2014 and until now, and that's what made people do not think to change their homes or build new homes."
He stressed the need to "solve the housing crisis through the Ministry of Construction and Housing to build housing complexes in collaboration with the Investment Authority on the lines of the draft Basmajh residential," noting that "the solution to the housing crisis will eliminate the phenomenon of slums deployed in the capital, Baghdad."
He stressed that "end the security crisis and the return of displaced people to their homes will move the real estate market because of the reconstruction campaign taking place in areas liberated from al Daesh."
The population of Iraq, 36 million people, according to the Ministry of Planning, while the country is witnessing a severe housing crisis and made many studies of specialists to the Iraqi government to build six million housing units needed by the country to end the crisis.
On the other hand, a spokesman for the Ministry of Planning Abdul-Zahra al-Hindawi told (Journal News), said that "Iraq is witnessing a major crisis for housing and needs great efforts to eliminate them, through the construction of 2.5 million housing units to three million housing units," noting that " the economic crisis in the country because of low oil prices and exit of a large area of state control, which led to increased military spending stopped residential projects planned construction in the provinces. "
He stressed that "We have to enter the private sector to ease the housing crisis through the implementation of housing projects, because today in front of a real problem because the number of housing rises annually 3% and therefore it requires an increase in housing units that are disabled," adding that "the government's plans have given considerable attention to the sector housing because most poor people are affected by it. "
In the same context, the economist said Laith Mohammad Reza, for (Journal News), he said that "the absence of Housing and Urban serious politics deep into the plight of the Iraqi economy, its crises, real head down towards the huge housing and construction projects will exceed tackle the housing crisis alone leads to reduce unemployment and create significant economic mobility." He pointed out that "associated with the housing sector and construction industries accounted for 50 percent of the existing industrial projects."
He called Mohammad Reza to "build agricultural, industrial and tourist cities are hotbeds of development as they represent a panacea for unemployment and housing crises."
In the meantime, the economic expert Ali Kanani told (Journal News), "The real estate market is experiencing a recession now will rebound in the next two years due to the establishment of the state with the support of citizens with money through the Housing Fund," noting that "house prices are very high in Iraq, compared to neighboring countries due to the housing crisis. "
And that "ending the housing crisis by building residential complexes and the distribution of land to the citizens and the granting of housing loans through the government and private banks Sishnt real estate market as well as falling prices."
He stressed that "the Iraqi government through the discussions in the Council of Ministers see it is serious about ending the crisis."
In the Kurdistan region of Iraq real estate market is witnessing a recession is also no different from the capital Baghdad and the southern provinces because of the financial crisis in the distribution of salaries and lack of staff.
He says Saud Messenger owner of office real estate sale for (Journal News), "The real estate market in the Kurdistan region has been witnessing since the past two years a major recession, which led to a drop in prices is very large," adding that "the real estate market before entering Daesh was witnessing very active because of the movement business taking place in the region ".anthy[You must be registered and logged in to see this link.]