Iraq secures fourth place in Arab real estate market Rankings

Iraq has claimed the fourth position among 14 countries in the Arab real estate market for the year 2024. According to statistics released by Statista, a prominent German online platform specializing in data gathering and visualization, Iraq’s real estate market boasts an estimated value of $2.1 billion for the year, with a growth rate of two percent. Topping the regional rankings, Saudi Arabia leads with an estimated market value of $2.3 billion for 2024.

Following closely behind, Morocco secures the second position with a projected value of $1.63 billion, indicating a four percent growth, as reported by Shafaq News. Egypt clinches the third spot in the Arab real estate market, as per Statista’s data, with an estimated value of $1.45 billion for the year.

Iraq’s ascent to the fourth rank is notable, with a growth rate of six percent and an estimated market value of $1.12 billion. This growth reflects positive momentum within the Iraqi real estate sector, despite various economic and geopolitical challenges faced by the nation.

In contrast, Oman and Bahrain lag behind in the Arab real estate market rankings, with projected values of $325 million and $85 million, respectively. Both countries exhibit growth rates of four percent, highlighting a comparatively slower pace of development within their real estate sectors.

The regional real estate landscape underscores the diverse trajectories and performances across Arab nations, influenced by factors ranging from economic policies to geopolitical dynamics. Iraq’s positioning as the fourth-largest market underscores its resilience and potential within the Arab real estate arena, amidst a backdrop of evolving economic landscapes in the region.