TEHRAN, Iran, June.14
Trend:
There are more than 530,000 housing units are being constructed across the country as part of the National Housing Action Plan, said Deputy Minister of Road and Urban Development.
The private sector annually builds 350,000 housing units alongside 200,000 units in villages, said Mahmoud Mahmoudzadeh, Trend reports citing ILNA.
The government has increased housing loan celling from 1 billion (about $23,000) to 1.5 billion rials (about $35,000) that would be available for all applicants.
The gap between price and household income is the main issue and there should be housing price that is appropriate to households income especially affordable for those in the lower-income bracket.
Official reports indicate that during 11 months of the last Iranian year (started March 20, 2020) about $21 billion in advances has been paid to the housing sector and construction.
"There has been an agreement with Central Bank of Iran to reduce bureaucracy to a minimum and facilitate loan regulation for tenants," he added.