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
