TEHRAN, Iran, Jan. 3
Trend:
Deputy Minister of Roads and Urban Development of Iran Mahmoud Mahmoudzadeh has announced the details of the decisions taken to determine the interest rate on the National Housing Movement Mortgage loan rates, Trend reports citing ILNA.
According to the decisions of the Monetary and Credit Council, Mahmoudzadeh said that the interest rate would be 18 percent.
He added that the National Housing Fund pays a significant portion of the interest to low-income classes.
It was in the winter of 2018 when the Iranian Transport and Urban Development Ministry launched the National Housing Action Plan, which envisaged construction of 400,000 small and medium-sized apartments (70-100 square meters in size) across the country and particularly in Tehran, where housing prices have risen sharply.