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Iran's Housing Affordability Index Improves

Iran's Housing Affordability Index Improves Iran's Housing Affordability Index Improves

Iran's housing affordability index, an indicator of how affordable residential units are to the people, has improved in the past few years, the head of the Planning and Housing Economy Office at the Ministry of Roads and Housing Development said.
"The housing affordability index, which is a gauge for how hard the road to becoming a homeowner in cities is, has currently reached 6, indicating a two-notch improvement compared with the fiscal 2011-12," Ali Chegini also told HIBNA, the news portal of Bank Maskan, the agent bank of the housing sector.
According to Chegini, the housing affordability index is based on the ratio of the purchase value of a 75-square-meter residential unit to the total average income of urban households. 
The ratio effectively showcases the purchasing power of households against home prices. 

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