Baghdad: For Sale
Sometimes the best indicator of economic growth is real estate.
AP reports: “Residential real estate prices in Iraq’s capital have quadrupled in many parts of the city, says Ali al-Difaie, 54, the manager of a government office that processes property deeds. Al-Difaie and real estate agents say the rise is driven by an increase in income since the U.S.-led invasion two years ago and the liberalization of building and property laws.”
Statistics are hard to come by, but al-Difaie says an average 3,000-square-foot home in Baghdad’s upscale Mansour district sells for $300,000 now. That is four times the Saddam-era prices.
Sounds like progress.
(Hat tip: America)
This entry was posted on Friday, April 15th, 2005 at 10:08 am and is filed under Middle East, Military, Terrorism. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.