August 20, The Iran Project – Chairman of the Housing Association of Tehran said that the country’s housing sector is emerging out of recession and its market would witness a huge growth soon.
In an interview on Sunday, Iraj Rahbar noted that every recession should be followed by a natural period of prosperity, which is now occurred in Iran’s housing sector with delay.
The housing official highlighted that total numbers of the signed deals associated with the housing sectors of Iran and Tehran, for the month ending on July 22, stood at 49,805 and 16,156 respectively, indicating a respective drop of 6.8% and 6.3% compared with the previous month.
Rahbar also stated that foreign tourists are rushing to visit Iran following implementation of the Joint Comprehensive Plan of Action (JCPOA) that clinched on July 14, 2015, which brought about the need for new hotels and huge investments in this sector, referring to the housing industry’s growing market in the tourist accommodation sphere.
Also in June, Hassan Mohtasham in a panel had said that, “the housing sector is emerging out of recession while its pre-boom phase will continue until the end of summer, the next phase will entail a relative rise in prices and home sales.”
It should be noted that in line with President Hassan Rouhani’s housing policies, the Ministry of Roads and Urban Development has devised four general policies to promote home ownership for the middle-income group.
These policies include developing the mortgage market, issuing mortgage-backed securities, authorizing rent-to-own homes, establishing the Housing Savings Account to promote the culture of saving to purchase homes and expanding the market for home pre-sales.