82% Rise in Q1 Housing Loans

Bank Maskan, the agent bank of Iran’s housing sector, has released its latest performance report showing that the number of loans it allocated to applicants during the first quarter of the current fiscal year that ended on June 21 increased by 82.2% compared with the similar period of last year.
According to the report published on its official news portal HIBNA, the bank handed out 85,140 counts of a variety of loans, considerably higher compared to the 46,718 loans extended in the first quarter of the last Iranian year.
These loans include civil participation facilities, Qarzol-Hassaneh (interest-free) marriage loans and loans for home construction, purchase and renovation, among others.
During the Q1 of the fiscal 2017-18, Bank Maskan’s branches throughout the country doled out 5,266 civil participation loans for boosting the construction of residential units. The figure went up to 7,258 by the end of this year’s Q1, indicating a 37.9% hike.
The number of facilities aimed at easing home purchases totaled 24,586 in last year’s Q1, but reached 38,759 to show a 57.6% rise.