34440
Housing Sector Will Take Time to Improve
Economy, Business And Markets

Housing Sector Will Take Time to Improve

 The housing sector will get better only when the state of the economy and purchasing power of homebuyers improves, a Tehran-based analyst said.
Positive impact of Sunday’s implementation of the nuclear agreement between Iran and the six world powers, known as Joint Comprehensive Plan of Action — on the national  economy will not emerge any time soon, Mahmoud Jamsaz told Fars News Agency.
He noted that the gradual release of the “not-too-impressive frozen assets” of the country which is estimated at $100 billion, would not ease the burden of the credit crunch on the government or ease recession across all sectors.
“Only $6 billion of the assets to be released belongs to the government and the rest is money of the  Central Bank of Iran,” he said, adding that lower oil prices fueled by economic factors and the political tensions with Saudi Arabia have added to the imbroglio.
Jamsaz expected the housing sector to be the last industry to benefit from the sanctions relief announced late on Saturday. “Any positive development in the market is subject to improvement in the purchasing power of homebuyers that eventually determines the demand for housing units.”
He regretted that financial instruments such as Sokuk or participatory bonds are unpopular in Iran and called for concerted efforts to attract foreign investment. He further highlighted the importance of a safe and stable business environment which could encourage foreigners to invest in Iran.
Iran’s housing market is suffering from a long-standing recession despite the government’s stopgap measures, including raising the mortgage ceiling.

Short URL : http://goo.gl/15dkqz
  1. http://goo.gl/fUQLtv
  • http://goo.gl/GwvV3h
  • http://goo.gl/iraadJ
  • http://goo.gl/igN3Zs
  • http://goo.gl/VK6ReY

You can also read ...

Iran Receives First Round of Post-Sanctions Finance From European Banks
In what were the first finance deals clinched with cautious...
Indigenous E-Mail Service Remains an Outsider
Three years and extensive publicity later the costly ‘National...
51.5% Rise in University Graduates
The findings of the most recent National Population and...
Roads and Urban Development Minister Abbas Akhoundi has...
Indian Bank to Extend $150m for Chabahar Development
Iran is expected “very soon” to approach India’s Exim Bank...
TEDPIX soared by 3,459 points or 4.2% during the sixth month of the year–the highest monthly rise recorded so far this year.
Tehran Stock Exchange’s primary index TEDPIX gained 8,346.3...
‘Payment by Vein’ Trialed in UK Supermarket
A supermarket in London is trialing a biometric payment system...
68% of Non-Oil Exports Headed to 5 Countries
China, Iraq, the UAE, South Korea and India imported 68.7% of...

Trending

Googleplus