Economy, Business And Markets

Call for More Housing Liquidity

Call for More Housing LiquidityCall for More Housing Liquidity

A member of Majlis Economic Commission has called for more liquidity to be directed toward the housing sector, saying that although mortgage rate cuts are likely to help boost the sector’s growth, there is need for a shift in policymaking so that liquidity would find its way toward this sector. Massoumeh Aqa Pour-Alishahi added that policymaking should be geared toward promoting home ownership, Hibna reported. Iran’s highest financial decision-making body last week approved interest rate cuts for the country’s most attractive home loans to make them cheaper and more affordable. Based on the ratification, interest rates for the Housing Savings Account loans were decreased to 8% from the previous 9.5% in non-distressed urban areas and to 6% from the previous 8% in distressed urban areas. Conventional lending rates in Iran’s banking system stand at 18%.


Subscribe to the Financial Tribune to continue reading this article or Log in to your account if you are already a subscriber.

Find out more about our subsciption plans here.

Add new comment