In Erbil for instance, as bizarre as it may seem, being located near the airport seems to a be a good thing. The most expensive plots of residential land are located under a kilometer from the airport, as are the majority of the recent residential real estate developments such as Naz City and Empire.
Currently, you have around ten planes landing and the equivalent taking off from the airport. This number is set to increase steadily as the region grows and develops. Discussing investment opportunities with a local real estate agent recentl, we asked him why the prices of these locations were so hight considering that you could hear all the air traffic coming in and out of Erbil International airport. His answer, to my astonishment, was that these places were sought after partly because they were close to the airport. This fact made it appealing to them.
Maybe its because their is a lack of new developments and that since these are the only habitable ones on the market, it could explain the prices. Ince all the developments that are in the pipeline come to fruition (the first ones should be ready by the first quarter of 2012) then slowly but surely, being situated next to the airport might lose its appeal.