Business And Markets

36 Percent of Home Sales Financed by Bank Maskan

36 Percent of Home Sales Financed by Bank Maskan36 Percent of Home Sales Financed by Bank Maskan

Thirty-six percent of all homebuyers in the first four months of the current fiscal year (March 20-July 21) used Bank Maskan loans to finance their homes.
A total of 95,000 home deals were finalized in Iranian cities during the period under review. 
Bank Maskan, the state agent bank of the housing sector, granted 34,298 home loans to applicants either in the form of bonds or Housing Saving Account mortgage loan to first-time buyers. 
Given the average price of homes and home loans in the country, Hibna reports that Bank Maskan financing covers 20 square meters of total floor area of a residential unit.  
Bank Maskan paid 993,000 different types of loans (construction, home loans and repair loans) worth 107.11 trillion rials ($434 million) during the period under review, registering a 50% increase compared with the similar period of last year. 
The bank registered a sixfold increase (510%) in terms of the number of loans granted during the four-month period.  


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