Mohammed Shukri, Head of the Kurdistan Regional Investment Board, announced that not only have housing unit prices dropped, but further decreases are expected.

He also revealed that permits have been issued for the construction of 300,000 housing units so far, and a new project targeting renters is in the pipeline.

In an interview with Channel8, Shukri shared the statistics, stating, “Through the private sector, the Investment Board has granted permits for the construction of 250,000 housing units.” He added that the Ministry of Municipalities has approved an additional 50,000 units, bringing the total to 300,000.

Prices Have Become More Affordable
Shukri reassured citizens, saying, “Housing unit prices have decreased and are expected to drop even further. Compared to the past, prices are now much more affordable.” He also emphasized that a large number of apartments and houses remain vacant across the Kurdistan Region, which is contributing to the price decline.

A Special Project for Renters
Shukri delivered promising news for renters, announcing, “In the near future, we will implement a new project to build 20,000 housing units.” He clarified that these units will be offered to renters through long-term installment plans, enabling them to eventually become homeowners.