Bank Maskan Keen on Revitalizing Housing Sector

EghtesadOnline: Bank Maskan CEO Abolqasem Rahimi Anaraki announced plans to revitalize the housing sector by helping balance supply and demand.

News ID: ۷۸۳۲۴۹

14 July 2018

“Our studies show a large number of residential units on offer in the market do not match consumer demands. According to the consumption pattern, small- and medium-sized homes [measuring less than 100 square meters] are in higher demand, while many developers have built larger housing units,” he was quoted as saying by HIBNA. “To tackle the issue, the bank will focus on improving its credit policy in support of the supply side … to encourage developers to align themselves with the needs of first-time homebuyers covered by the Housing Saving Account scheme.” Rahimi noted that in the same vein, the government will revise “the flawed, ineffective regulations” governing the forward sale of future constructions.  Trading in the property market has slowed after an inflationary trend hit the foreign currency market in April, Financial Tribune reported.