As infrastructure projects complete

Property prices surge in Al-Qibla district, Basra

BASRA, October 18 — Property prices have significantly risen in the Al-Qibla district, west of the center of Basra, following the completion of infrastructure projects and the paving of all its streets. House and land prices have jumped by 150%, with increases continuing, according to real estate companies.

Abu Tahsin, the owner of a real estate office, stated, “The Al-Qibla area is witnessing a significant demand for property purchases despite rising prices. After the completion of infrastructure projects, investments have increased in constructing malls, markets, medical complexes, private schools, and more.”

He added, “All services are now available in Al-Qibla, which has had a positive impact on the real estate market. The prices of land plots (200 square meters) have increased from IQD 57 million to IQD 180 million, while houses have gone up from IQD 150 million to IQD 350 million, and the upward trend is continuing.”

Although there are residential apartments under construction, local residents tend to prefer horizontal construction. The location of the property certainly affects its price, depending on its proximity to schools, markets, and other services.

The local government distributes land plots to various segments of society, but this has not impacted the real estate market because these plots are on the outskirts of the city rather than in its center.

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