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Growth Predicted in Kurdistan Housing Market

Price rises forecast following a slow start to 2018

Forecasts are suggesting a growth in housing prices in the Kurdistan region, following a price decline caused by instability in the region in the early part of the year. 

In early 2017 real estate prices were high, however demand began to fall with the announcement of the KRG independence referendum and the response from the Iraqi Government to claim disputed areas which followed.

The housing rebound predicted can be attributed to a number of factors including; International companies beginning to return to the region, displaced people returning to their homes, the building of the new US Consulate building in Erbil, rising oil prices and the improvement in relations between Erbil and Baghdad. 

Continued improvements in social security and political stability will be key for the real estate market to grow in the longer term.

Source: Rudaw

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