Investors from Anbar find real estate deals in Kurdistan

AL-QAIM, July 30 — The prices of real estate in the city of Al-Qa’im, west of Anbar, have gradually started to decrease, according to real estate companies. Some residents are choosing to migrate to settle in cities in Kurdistan, which offer better deals compared to the hardships faced in some liberated cities on the outskirts of the desert.

The reasons behind this trend are the economic conditions affecting the residents of the district, the lack of job opportunities, and the weak commercial activity.

Houses in Al-Qa’im are known for their large spaces, ranging from 400 to 800 square meters. The cost of buying land and constructing a house was around 100 million dinars, but with the declining prices, the cost of a single house now ranges from 50 to 65 million dinars only.

Mohammed Allawi Abd, a real estate company owner, told 964 Network:
“The prices of houses and lands have started to decline as some of the residents began to return to Kurdistan for work and buying properties there due to the decrease in commercial activities and job opportunities in Al-Qa’im.”

Saadoon Dalli, a local investor, said:
“The decrease in prices presents an opportunity to buy land plots and establish commercial projects or renovate old buildings and sell them at higher prices in the future.”