Real Estate Leasing Firms May Return
Economy, Business And Markets

Real Estate Leasing Firms May Return

The Central Bank of Iran is revising real estate leasing regulations, a move that could lift the ban on the sector which was banned by the previous administration, an official at the CBI said Monday.
“As soon as the revisions are finalized it will become law,” Mehr New Agency quoted Hamidreza Ghanizadeh, head of the CBI Office for Research and Regulations as saying on Saturday.
The new scheme, if approved, would allow leasing firms to offer loans covering up to 70% of home prices.
The loans will be offered at  21% and the repayment period could vary between 5-12 years.
 Ministry’s Position
This week a senior advisor to the Ministry of Roads and Urban Development said his ministry supports the reactivation of real estate leasing firms.
“Scrapping the real estate leasing sector was a mistake, and we urge the CBI to revoke its earlier decision on this issue,” Hussein Abdo Tabrizi said.
He said Abbas Akhundi, the minister of roads had pleaded with the CBI to allow lessors to enter the real estate market two years ago.
“However, a major constraint in home leasing contracts is the sky-high rates because the lessees would not be able to pay interest rates hovering near 30%,” he added.
The previous government banned the leasing companies on grounds that they had manipulated the key housing market.

Short URL : https://goo.gl/zonyvP
  1. https://goo.gl/KLHMgn
  • https://goo.gl/XcSjPt
  • https://goo.gl/xIMU5Q
  • https://goo.gl/UYqK0l
  • https://goo.gl/dQE1LR

You can also read ...

Europe May Tap Cryptocurrencies to Shield Iran Against US Sanctions
The European Union may opt for digital currencies in its...
Iran’s net hot-rolled coil consumption was 5.6 million tons in 2017, of which 0.8 million tons were imported.
Russia and Kazakhstan are temporarily stepping back on sales...
Secondary Forex Market: Corruption Loopholes Abound
Two goals set have been set for the recent establishment of...
EU foreign policy chief, Federica Mogherini, hailed the imposition of the blocking statute on Monday as a “consistent step forward”.
As it races to save the Iran nuclear deal, the European Union...
Deputy Economy Minister Defends Gov’t Forex Policy
The government’s policy to allocate dollars and euros to...
Colza Production Exceeds Expectations
The government has purchased more than 300,000 tons of colza...
Hashtgerd Subway Station Construction Underway
Iranian authorities are pushing ahead with construction plans...
Interbank Rate Tweak to Impact Interest Rates
Officials at the Central Bank of Iran have announced the...