Plan of Action to Help Calm Housing Market

The Ministry of Roads and Urban Development has devised a nine-point action plan to help balance the housing market that has seen more than its share of ups and downs in recent months as the country grapples with a major currency crisis.
According to Hamed Mazaherian, MRUD deputy for housing and construction, the ministry aims to offer a tax incentive package to boost production of residential units, establish an electronic market and transfer responsibility of taxing vacant homes from the National Tax Administration to municipalities.
ISNA quoted him as saying at a meeting in Tehran that the ministry wishes to accelerate the process of ratifying a bill aimed at creating a momentum in residential unit presales, curb speculative activities related to the selling of property through tax and support construction of houses with smaller floor areas.