The total volume of loans allocated to Iran's housing and construction sector by banks and credit institutions during the first five months of the current fiscal year that ended on Aug. 22 jumped by 35%, according to data newly released by the Central Bank of Iran.
Figures published on the monetary regulator's website show that the loans doled out to the sector during the period totaled 207.71 trillion rials ($1.26 billion). During the corresponding period of last year, the sector received 153 trillion rials ($928.56 million) in loans.
The increase in support for the ailing housing sector comes, as volatilities in the currency market have for months created instability in other markets, including the housing market.
September 28, 2018 18:55
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Iran: Housing Loans Rise 35% (Mar-Aug 2018)
Loans doled out to the housing and construction sector during the first five months of the current year (ended Aug. 22) totaled 207.71 trillion rials ($1.26 billion) compared to 153 trillion rials ($928.56 million) during last year's corresponding period
The rise in the total volume of loans allocated to the housing and construction sector was more than twice the increase in the volume of facilities extended to all economic sectors
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