Economist: one decision of the government will reduce real estate prices
November 7, 20: 03
Information / private..
Economist Nabil Al-Ali said on Monday that the frightening rise in real estate prices is related to the government's decisions on reducing the dollar exchange rate, especially that some real estate is being sold and bought in dollars.
"The new government's decisions on reducing the dollar exchange rate will be able to reduce real estate prices in Iraq, especially real estate that is sold and bought in dollars," Al-Ali said in an interview with Al-Malouma. He added that
"the funds offered by the Central Bank contributed to raising prices by a very large percentage, as the activation of economic projects stopped compared to the sale and purchase of real estate," pointing out that
"these funds worked to increase demand for real estate, which caused the continuous rise in their prices.
"The suspicious qualities and the massive thefts that took place in the government were converted into real estate by buying for twice the amount that the property is worth," he added.
The Economist Younis Al-Kaabi, said in an interview to / information/, that
"one of the doors of money laundering used by politicians is to buy real estate at higher prices than usual and in privileged places," stressing that
"there is no demand or movement on these properties except from certain people who are the reason for the rise in real estate prices in Iraq. Over25 / y