Baku, Azerbaijan, Apr. 30
By Khalid Kazimov – Trend:
Housing sector in Iran accounts for the seven percent of the country’s GDP, a senior official said. Hossein Abdoh-Tabrizi, senior economist and advisor to Iran’s Minister of Roads and Urban Development Abbas Akhoundi, has said that housing sector in the country accounts for seven percent of the GDP and 20 percent of the national income, Ibena (Iranian banks and economy news agency) reported.
Addressing a conference on investment opportunities in Iran, Hossein Abdoh-Tabrizi called for facilitating the presence of foreign investors in the country’s housing sector. According to the official the current share of service sector in the GDP stands at about 54 percent which is projected to reach 60 percent in future.
Hossein Abdoh-Tabrizi also touched upon the job opportunities in the housing sector and said 15 percent of the country’s labor force is involved in housing sector. The official also said that the county needs to construct 700,000 residential units per year. The latest statistics by the Central Bank of Iran indicates an 8.5 percent decline in the number of trades of residential apartments in the first month of the current fiscal year (starting March 20) in the capital Tehran. According to the statistics, 5,400 residential apartments were traded in the capital city in the mentioned period, indicating 8.5 percent slump compared to the preceding month.