Iran's Central Bank Raises Home Loan Ceiling

In a move to stimulate the sluggish housing market and increase homeownership, the Money and Credit Council - a major monetary decision making body - agreed to raise the ceiling of house construction loans. 
According to the CBI website, each applicant in Tehran is eligible for up to 1 billion rials ($7,700) in home construction facilities. The ceiling for couples is 1.6 billion rials ($12,300) (800 million rials each).