Country IQ Cost of Living Analytics

Living expenses and utilities

Basic Utilities (85m²)

$103

Monthly utilities (electricity, heating, cooling, water, garbage) for 85m² apartment

Mobile Phone Plan

$22

Mobile phone monthly plan with calls and 10GB+ data

Internet (60 Mbps)

$32

Internet (60 Mbps or more, unlimited data) monthly cost

Average Monthly Salary

$628

Average monthly net salary after tax

Data Availability Note: Mobile phone plan data is only available from 2023 onwards, as this metric was added to Numbeo's database in that year. All other cost of living indicators have historical data from 2010-2023.

Basic Utilities (85m²)

Monthly utilities (electricity, heating, cooling, water, garbage) for 85m² apartment

Mobile Phone Plan

Mobile phone monthly plan with calls and 10GB+ data

Internet (60 Mbps)

Internet (60 Mbps or more, unlimited data) monthly cost

Average Monthly Salary

Average monthly net salary after tax

Additional Insights

Expert analysis of Country IQ Cost of Living trends and investment implications

Market Overview

Iraq's real estate market presents a mixed investment landscape with potential for high returns in select areas but significant risks due to economic volatility and regulatory challenges. While property prices in Baghdad and Erbil have shown moderate appreciation, the overall market is heavily influenced by geopolitical factors and fluctuating economic conditions. Rental yields offer some promise, particularly in urban centers, but investors must navigate a complex tax and ownership landscape.

Key Findings

Data-driven insights

•Between 2011 and 2023, Iraq's GDP growth averaged around 2.5% annually, while house prices in key cities like Baghdad grew at a slower pace of approximately 1.8%, indicating a mild underperformance relative to the economy.
•Rental yields in Baghdad and Erbil range from 6% to 8%, which is generally attractive compared to prevailing local interest rates of around 4-5%, suggesting potential for positive cash flow.
•Population growth in urban centers is estimated at 2.1% annually, outpacing housing supply growth of approximately 1.5%, creating a supply-demand imbalance that could drive future price increases.
•Property prices remain relatively low compared to regional peers, offering a good value proposition against a backdrop of improving quality of life metrics, especially in cities like Erbil.

Market Trends

Historical patterns

•Urbanization is accelerating, particularly in Baghdad and Erbil, increasing demand for housing.
•Regulatory reforms are slowly improving transparency and foreign investment conditions, though challenges remain.
•Oil price volatility continues to impact economic stability, influencing real estate market dynamics.

For Investors

Actionable takeaways

•Consider investing in high-demand areas like Erbil for strong rental yields and potential capital appreciation.
•Watch for regulatory changes that might affect foreign ownership or tax liabilities.
•Focus on residential properties, particularly 1-bedroom and family units, in urban centers for steady rental demand.
•Adopt a cautious approach: monitor market conditions closely, especially geopolitical developments, before making substantial investments.

Market Context

Compared to regional markets like Iran and Saudi Arabia, Iraq offers potentially higher yields but comes with increased risk due to political instability and regulatory uncertainties. While there are promising opportunities, particularly in residential sectors, investors should be prepared for a dynamic and occasionally volatile investment environment.

💡 Insights based on historical data. Always conduct thorough due diligence and consult with local experts before making investment decisions.