Domestic Economy

Q1-3 Housing Loans Hit $1.12b

The value of loans registered a 43% growth in value in the nine months compared with the same period of the year before
Q1-3 Housing Loans Hit $1.12b
Q1-3 Housing Loans Hit $1.12b

Bank Maskan, the state agent bank of Iran’s housing sector, paid a total of 1.47 million loans worth 257,800 billion rials ($1.12 billion) to applicants during the nine months to Dec. 20, 2020, registering a 43% growth in value compared with the same period of the year before.  
According to Mahmoud Shayan, Bank Maskan’s managing director, construction loans accounted for the lion’s share of the financial facilities during the period and a total of 44,250 billion rials ($192 million) were paid for the construction of 44,297 residential units across the country, which show a year-on-year increase of 46.7%.
“A total of 100,000 repair loans worth 32,800 billion rials [$142 million] were also paid during the period. In addition, 78,722 households managed to purchase homes using Bank Maskan loans either in the form of bonds or Housing Saving Account mortgage loans,” Shayan was quoted as saying by Hibna.


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