Economy, Business And Markets

Iran Gov't Plan to Ease Home Loan Rules

Plan to Ease Home Loan Rules Plan to Ease Home Loan Rules

As prices of all goods and services, including apartments, are rising in Iran due to an ongoing currency crisis, the government is pondering on ways to facilitate conditions of homeownership to at least partially offset the declining public purchasing power in the housing market.
According to Hamed Mazaherian, deputy for housing and construction at the Ministry of Roads and Urban Development, rules for obtaining facilities from the Housing Savings Account, the main government initiative aimed at helping first-time homebuyers, could be changed.
"The proposal to eliminate the limitation on the buildings' age for homeownership has been put forward, which has pros and cons," he told ILNA. 


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