After long stagnation, property market recovers in Aleppo northern countryside

(Eqstad)- Property market in cities and towns in northern Aleppo countryside to unprecedented recovery following a long stagnation that has lasted four years. The thing which was enforced by expelling ISIS from the towns and villages in the countryside.

Local sources in northern countryside told Eqtsad that property market is witnessing a mad increase in prices especially in commercial property in the big cities like Izaz, Mare, and Sawran.

The same sources noticed a recession in the property offers in Izaz and Mare in contrast of a huge increase for demand. In addition, the sources indicated a confusion in property prices as a result of the long stagnation and collapse of the value of the Syrian Pound in comparison to its value pre-revolution.

Economists who talked to Eqtsad links the improvement of property indicators in Aleppo northern countryside and the Turkish talk of the announcement of a safe zone to be soon.

Syrian researcher Ahmad al-Hussein sees that in case opposition forces advanced more militarily, the property prices will increase more in the coming days. At the same time, he underestimated the effect of the battles between the opposition and the Kurdish Protection Unites (YPG) on the demand on buying property in the northern countryside because as he said, “the clashes are limited and settled for the interest of the opposition and Turkish decision to establish a safe zone.”

However, al-Hussein thinks the property market indicators will remain irregular in the northern countryside and other years until a final settlement is reached in the whole country.

A local source from Mare city confirms that the price of one meter of land prepared to build in the surrounding in Mare reached 25000 SP indicating that land owners are still not selling even with this high price, according to his estimation.

The source clarifies that the prices of commercial stores in the city market have increased to more than 40000 $ for average area stores whereas stagnation still looms over the market of agricultural land.