Iraq's 'Akarî' real estate platform draws industry concern over added costs

BAGHDAD, Iraq — Iraq's decision to route all real estate transactions through a single digital platform called "Akarî" has drawn criticism from industry representatives and citizens who say new fees are inflating the cost of buying and selling property. Under the regulation, each transaction carries a 550,000-dinar platform fee on top of separate broker commissions paid by buyers and sellers. Real estate workers warned that the system, which restricts transactions to designated brokerage offices, raises total costs further through additional taxes and charges. They said competition between offices had previously kept prices manageable, and argued that the higher costs will now discourage citizens from purchasing property. Industry figures cautioned that the move could deepen Iraq's ongoing housing crisis by pushing the construction and real estate sectors into stagnation, worsening shelter access for middle- and lower-income households. Their demands include lowering the platform fee, opening the system to broader participation and cutting bureaucratic hurdles. No official statement has been issued by the authorities on the concerns raised.