Al-Husseiniya real estate market booms amid service improvements

BAGHDAD – The Al-Husseiniya area of Baghdad has experienced a significant increase in real estate prices over the past two years, driven by improved infrastructure and rising demand. Land prices have risen by 60% following a improvement in services, including road paving and sewer installations.

Houses in Al-Dhubbat, a sought-after area known for its large 300-square-meter plots and proximity to the main street, have seen the steepest price increases. Conversely, Musqat and Al-Luqmaniyat, located on the outskirts of the area, remain the most affordable areas due to their distance from central services.

Rental prices have also surged. Previously ranging between 100,000 and 150,000 Iraqi dinars ($66 to $100), rents now average 300,000 IQD ($200)  in many areas and reach up to 500,000 IQD ($333) in highly desirable locations.

Hussein Rashak, a real estate agent with 15 years of experience, explained the trend to 964media, stating, “In the past, a 100-square-meter plot in Al-Husseiniya cost about 5 million dinars IQD ($3,330). Today, the same plot is valued at 20 million IQD  ($13,320), marking a 60% increase. Al-Dhubbat has seen the highest demand due to its location and larger house sizes.”

Similarly, Ahmed Saadi, a property owner operating since 1997, highlighted the transformative effect of infrastructure improvements.

He said, “Prices in Al-Husseiniya have skyrocketed. Land that used to sell for 10 million IQD ($6,660) now goes for 30 million IQD ($19,980), and in Al-Dhubbat, prices have reached 60 million  IQD ($39,960).”

Saadi also noted discrepancies in property values across the area. In areas like Al-Hares Al-Khas, which lack basic services, plots are valued at 20 million IQD ($13,320). However, he believes these could increase significantly if infrastructure improves.