Tehran, Iran, August 13
By Mehdi Sepahvand –- Trend:
The 16th International Exhibition of Building and Construction Industry (IRANCONFAIR) opened in Iran August 12 in a situation witnessing a 5-year stagnation in the housing market.
The stagnation in the housing market is a result of people making uses of housing industry far different from the real immediate need for a shelter, Mohammad Ali Pour Shirazi, member of board of directors of Iran Housing Companies Association told Trend.
"When people’s economy has problems and there is a gap between income and costs, the most immediate impact is laid on housing," he said, noting that in Iran a lot of people resorted to housing in the past decades as a sort of safe investment.
"They put their money as investment in housing and they naturally and rightfully expect to make profit. It is natural for them to raise their prices when they see they have not been able to sell what they built two years ago," Pour Shirazi observed.
He also voiced interest in seeing what the new cabinet has to offer to change the situation.
President Hassan Rouhani has introduced his second-term cabinet and is waiting votes of confidence from the Parliament. He has kept the road and urban development minister of his previous administration, but changed the minister of economy.
Being held 12-15 August 2017, IRANCONFAIR is a venue to present and introduce domestic and foreign industrial achievements and productions in the housing and construction sector.