Iraq: Real Estate Prices Reached 10 Times Their Real Value
|May 18, 2014||Filled under Iraq Investment News|
Iraq Investment News –
The real estate market is witnessing a significant increase in the proportion of their services and quality compared to what requires those in charge of this sector to reconsider calculates the prices of pieces of land and real estate and make it fit the types of service facilities in Iraqi cities.
Attribute Economists high prices to undergo the real estate to the principle of supply and demand, stressing the need to be real and not fabricated as the limited supply compared to an increase in demand for help heavily on rising prices of real estate sale or rent, including difficult to restrain.
Were GCT discussed earlier with the Department of Real Estate Registration possibility of amending real estate prices in Baghdad and re-defined to suit the realities of residential areas and modify their order to cope with real value in the real estate market.
Real estate market in this context said economic expert, Dr. Majid picture that the real estate market in any country in the world, subject to supply and demand, but The general situation in Iraq, other influences in determining those prices. added picture in a statement (morning): that in spite of the existence of general trends for Real Estate, but the privacy of supply and demand make prices of some real estate more than the required level measured by the services in their areas, stressing the need to resolve the problem of housing and commercial areas that link the value of the property where the 10 times the true value.
Growing demand and stressed that the provision of housing is an urgent need to meet the need and to meet the growing demand in the field of shelter, adding that the rising prices of real estate comes as a natural result of the overcrowding population that exists in Iraq, along with the diversity of housing In cities where there are areas for Aeskinha only the rich and the other parts of the Aeskinha Allqra, as well as the general situation of the country. Image stressed the necessity that does not leave the subject of pricing confined Baldalalan because it makes the issue a continuous chaotic.
Proposed economic expert to reconsider the organization of Iraq for housing, along with a review of the overall planning of cities. According to observers, the real estate market is currently experiencing a recession significant because of the enormous rise in prices, with the scarcity of the existence of any property for rent months ago.
Aldalalon its part, said economic researcher Suhad Athari, said the rise of real estate prices was due to the exploitation of auctioneers for conditions served their profession loans Housing and 100 stipend awarded to employees at the time, along with the merchants and people with high salaries to exploit the low price now ( Despite the rise) and buying tracts of land and property within the cities as well as the prices of construction materials.
Invest winner and felt in her speech (morning) that the decline in the movement of investments in commercial sectors contributed to the transformation to the trafficking of the drug to the fact that prices are subject to increase rather than to decline and the decline in addition to rising demand In the absence of clear for viewing or limitations. Called on to ensure the protection of citizens and their right to obtain residential real estate at a price of real without exaggeration as the controls on the markets for goods and services has become a necessity.
Population growth and indicated virgins that Iraq has achieved population growth amounted to 3 percent in 2012, according to the reports have not been the actual planning for this increase, which led to the high prices of real estate in the cities as the failure to build more housing units led to a worsening of the housing crisis, what caused the rise in unlimited prices.
Noted that Real estate prices in Baghdad has seen a remarkable rise with contained in the services, including the Aatsawy with the real prices of the properties in question Kberan central body responsible for determining the prices of property.
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