In a move to stimulate the sluggish housing market and increase homeownership, the Money and Credit Council - a major monetary decision making body - agreed to raise the ceiling of house construction loans.
According to the CBI website, each applicant in Tehran is eligible for up to 1 billion rials ($7,700) in home construction facilities. The ceiling for couples is 1.6 billion rials ($12,300) (800 million rials each).
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