Economy, Domestic Economy

Housing Market Improves

Housing Market Improves
Housing Market Improves

The housing market improved in the period August 22– September 23 compared with last year’s sales which were deeply affected by the recession.  

Although the housing market has yet to meet the expected growth for this year, the recent increase in purchases this month compared with the similar period last year is a positive signal.”, Hesam Oghbaie, chairman of real estate union told Eghtesad News.

The housing market boomed in the first months of summer (June 22 – August 22), however, the growing curve slowed with the start of Muslim fasting month, Ramadan, in the second month. The market rose again in terms of volume of transactions in the third month compensating the decline in the previous months, according to Oghbaie.

“We hope that the initiatives introduced recently including banking facilities, social housing project and stage-exit policy package help the market stabilize and exit recession”, Oghabie added.

The ongoing nuclear negotiations will not have a “significant” impact on housing prices, however, any positive results will surely help the market boom, Oghabie added.