Wednesday, August 29, 2012

Housing prices in Kurdistan higher than prices in California: repoft

A very impressive report about the incredible housing prices in the semi-autonomous Kurdistan Region of Iraq by my friend and former colleague Mohammed Salih. 

Some highlights:

  • In some areas, housing and property prices are higher than housing prices in California.  
  • In some areas, prices have increased by 80 percent
  • The increase has mainly been caused by foreign investment
  • Kurdistan has attracted more than $20 billion in foreign investment since 2007 
  • Over $10 billion of the $20 billion investment has been in the housing sector
  • Over 140,000 housing units have been built in recent years yet prices keep going up