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Monday, April 18, 2005

Housing prices soaring in post-Saddam Baghdad

More tipping point news: Housing prices soaring in post-Saddam Baghdad
Elections and the creation of a new Iraqi interim government appear to have stabilized the market and sent prices higher. Property has started to change hands. The economy is picking up. Exiles are coming back.

Workers troop in and out of al-Difaie's office with stacks of home-sale documents to sign. "Iraq is a rich country," he says, looking up from a pile of paper on his desk. Bank loans are becoming available, but at least half the buyers use cash, he says.
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