Economy, Business And Markets

Iran's Q1 Housing Loans Surge 32%

Total loans allocated to Iran’s housing and construction sector during the Q1 of the current year indicated a year-on-year rise of 32% in terms of value
Q1 Housing Facilities Surge 32%Q1 Housing Facilities Surge 32%
The average floor area of apartments in Iran is 120 square meters whereas real demand is for residential units with an area of 60 to 70 square meters

Facilities allocated to Iran's housing sector during the first quarter of the current fiscal year to June 21 increased both in terms of volume and value, the central bank's data show.
A Saturday review of the Central Bank of Iran data by HIBNA, the news website of Bank Maskan, the agent bank of the housing sector, shows that the volume of loans allocated in the housing and construction sector during this year's Q1 increased by 32% in terms of value. It was 16% higher than the average of all loans since banks and credit institutions' lending portfolio grew by 16.3% in the same period. 
CBI figures indicate that the sector received 98.90 trillion rials ($2.25 billion) in the first quarter of the current year, whereas data for the Q1 of the previous year put the figure at 74.68 trillion rials ($1.7 billion). 


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