Baghdad: Residential real estate asset prices boom
According to the Sunday's Al-Khaleej newspaper, the residential real estate asset prices in the Iraqi capital city, Baghdad, have jumped impressively over the past period. Market sources relate this price climb to increasing salaries of the state employees and canceling the housing law of 1957's survey. In addition, many political parties, trading companies and humanitarian organizations started to buy residential real estate in Baghdad, which increased the prices.
Real estate specialists in Baghdad said that the prices grew by 7 times and estimated this upward trend to sustain in the upcoming period. An employee in the real estate registry office in Baghdad said that the crazy real estate price growth reflects the fact that many Iraqis were deprived from purchasing and owning real estate assets during the former regime.