Economy, Domestic Economy

Forex Impact on Housing

Forex Impact on Housing Forex Impact on Housing

Foreign exchange rate fluctuations in recent weeks have no major impact on government’s housing policy, Hassan Mohtasham, head of Tehran Mass Builders Association, told ISNA on Monday. The housing sector has been in recession for the past couple of years, and some experts believe that the sector may be on its way to recover given the recent depreciation of the rial against major currencies. However, it is not expected that the fluctuations in forex market can stimulate the sector, Mohtasham said. The ministry of roads and urban development says it will soon unveil a comprehensive plan for the housing sector which officials believe would help the sector recover without causing price shocks in the market.