Local official expects a drop in real estate prices in Diyala despite high demand
![Local official expects a drop in real estate prices in Diyala despite high demand](https://media.shafaq.com/media/arcella/1716223014250.jpeg)
Shafaq News/ The Diyala Investment Commission has received 100 investment requests for housing projects, according to its head, Karim al-Azzawi.
Al-Azzawi told Shafaq News agency that "more than 30 residential complexes are currently under construction or have been completed in Diyala, and we now have around 100 requests for investment in the housing sector."
"Some of the requests are aimed at middle- and low-income earners to alleviate the housing crisis in the governorate," he added. "While it's true that prices have risen, the diversity of options and the increasing number of complexes will lead to an increase in supply compared to demand, and therefore we expect prices to fall in the coming period."
"Solving the housing crisis in Diyala requires 350-400 housing units compared to the population, which has grown significantly in recent years," he said.
Iraq is suffering from a house supply shortage of nearly three million units although it has completed over 7,000 housing projects over the past 20 years, an Iraqi housing official was reported on Wednesday as saying.
Scores of housing projects are currently under construction in various parts of the Arab country, but they only cover around 50 percent of the gap.