Over the past decades and under different governments, housing indicators have moved deep into negative territory and the scale and scope of the problems have turned into a full-fledged crisis apparently with no solution in sight.
The Money and Credit Council (MCC), the decision-making body of financial markets, approved a new measure as per which the maximum value of loans for purchasing and constructing housing units is doubled.
Mohammad Reza Farzin, the governor of the Central Bank of Iran, made the announcement Tuesday. “The ceiling for housing loans is Tehran City was 2 billion rials ($4,000) for individuals and 4 billion rials ($8,100) for couples. This has been doubled meaning that couples can take out up to 8 billion rials ($16,300) to buy a home in Tehran,” CBI website quoted him as saying.
