Financial Tribune - The coronavirus has stoked concerns about losing one’s savings as more people entered the housing market in the month ending May 20 to register an 809.9% rise in home deals compared with the preceding month.

Mehdi Soltan-Mohammadi, a housing expert, says people are turning to the housing market to protect their savings in the face of rising inflation.

“No one sees housing as a short-term consumer commodity. Even real consumers view purchasing a home as a long-term investment,” he said.

“In recent years, Iran’s population has continued to grow and migration from villages to cities has increased tremendously. Policies need to be directed toward encouraging supply. However, interference in markets, including housing market, which has the self-regulation function, is not advisable.”