EghtesadOnline: The development of mortgage market is vital, in view of the decline in the purchasing power of Iranians, an economic analyst said.
EghtesadOnline: A notable change in recent years, especially in the past few months, in Iran's housing market has impacted the tenancy market, considerably increasing the number of deals.
EghtesadOnline: A review of data by the Central Bank of Iran shows that residents of Tehran, the bustling capital city accounting for roughly half of all home sales in the country, increasingly favor smaller homes as their purchasing power has dwindled.
EghtesadOnline: As prices of all goods and services, including apartments, are rising in Iran due to an ongoing currency crisis, the government is pondering on ways to facilitate conditions of homeownership to at least partially offset the declining public purchasing power in the housing market.
EghtesadOnline: Bank Maskan, the state-run agent bank of the housing sector, is considering the possibility of increasing the ceiling of home loans while reducing their interest rates to boost the people's purchasing power that has taken a serious hit due to recent hefty price hikes.
EghtesadOnline: The value of home loans has not increased in line with recent skyrocketing prices, drastically eroding the purchasing power of Iranians and contributing to a downturn in housing sales.