Heralding the arrival of new financial instruments for the stagnant housing sector, a deputy minister of roads and urban development said the new instruments were proposed by his ministry and are being reviewed by the Central Bank of Iran and the Money and Credit Council. According to Hamed Mazaherian as reported by Mehr News Agency, the instruments have been devised to be offered through various venues including the equity market. Also referring to the number of home sales, Mazaherian said “we have witnessed an 8.2% rise” and should the figure continue to increase in the next two months, “it will become a trend.” The official noted that loans paid by the government for this sector have been allocated in a way “to increase the purchasing power, but not to stoke inflation in the market.”
