The Tasnim news agency, affiliated with security institutions in Iran, reported that the nearly one billion toman housing loan has had no impact on people's ability to own homes. According to this news agency, the average price of housing has risen above 80 million tomans, and with a 960 million toman housing loan, considering the costs of the loan, one can only purchase 8.5 square meters of housing. On the other hand, Iranian media have reported the continuation of stagnation in the housing market and concerns among builders about the ongoing recession, with sales statistics in the capital indicating only 3,000 transactions in a month. The newspaper Donya-e-Eqtesad reported on January 7 that the volume of transactions has decreased by more than 70% compared to the first half of the 2010s, before the price surge began. The Research Center of the Parliament also reported this summer that up to now, income deciles one to three are 'absolutely' unable to secure the housing they need, while the fourth and fifth deciles and even part of the sixth decile are 'relatively' unable to do so. Ebrahim Raisi promised during the election campaign to build one million housing units annually, which he has emphasized in recent years. Officials of the Islamic Republic have claimed in recent months that nearly two million housing units are under construction, but experts refute these claims based on the statistics of permits issued for housing construction. In the latest decision, the Tehran municipality announced that reserve lands in some areas will be allocated to the Chinese for construction. The slogan 'Death to the Mafia' was chanted at the gathering of registrants for 'National Housing' in Tehran. The housing rental crisis in Tehran continues; the hot market for single rooms, with 10 square meters renting for 3 million tomans with a deposit. A newspaper report indicates that the municipality is asleep regarding the capital; Tehran is becoming Chinese. Criticism of 'regional wages' continues; a union activist states that the government is trying to reduce workers' purchasing power. Over 15 years, wages have increased 20 times, but housing prices have increased 45 times.
A Loan for Not Owning a Home; Buying 8.5 Meters of House with a 960 Million Toman Housing Loan
The Tasnim news agency reported that a 960 million toman housing loan allows for the purchase of only 8.5 square meters of housing, highlighting the severe housing crisis in Iran. Despite government claims of ongoing construction, experts doubt the validity of these statements as the housing market stagnates. This situation underscores the growing affordability crisis for many Iranians.
👥 Key Players
📰 What Happened
A report highlighted that a 960 million toman housing loan only allows for the purchase of 8.5 square meters of housing, indicating a severe housing crisis in Iran. Despite government claims of ongoing construction, experts express skepticism about the actual progress in the housing market.
- Average housing prices have risen above 80 million tomans.
- Housing transaction volumes have decreased by over 70% compared to the early 2010s.
💡 Why It Matters
📚 Background
Iran has been facing a housing affordability crisis, with rising prices outpacing wage growth, leading to increased public discontent. The government's claims of new housing developments are met with skepticism by experts.
🏷️ Entities Mentioned
Translated from the original and edited for English readers. View original source →
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