Cardiac Arrest in the Housing Market; Buying and Selling of Housing Halted

Iranian media have reported the continuation of the crisis in the housing sector, stating that the supply of housing is in a favorable condition, but transactions have sharply decreased and have stopped in some areas. The newspaper 'Shargh' has addressed this issue in a report, stating that the market will be in a semi-closed state until the end of Farvardin (April). According to this Tehran-based newspaper, 'the latest field research on the state of housing transactions in the last month of the current year indicates a recession in buying and selling in this market.' Accordingly, it has been announced that a significant price and transaction event in this market is unlikely at least for the next month and a half. The government-affiliated news agency 'Tasnim' also reported on the government's 'ineffective' policies in the housing sector, stating that following the increase in the price of housing loan bonds, with a 960 million tomans loan from Bank Maskan, one can buy 4 square meters of housing in district one of Tehran after deducting the cost of purchasing bonds. Tasnim emphasized that an examination of the over-the-counter market shows that the average price of each housing loan bond has reached about 150,000 tomans. This media outlet, affiliated with security institutions, emphasized that a loan applicant in Tehran must spend 288 million tomans for bonds, and therefore the remaining loan amount for the applicant will be 672 million tomans. Meanwhile, according to the latest report from the Iranian government's statistical center, the average price of housing in Tehran in Dey (December) of this year has increased to about 80 million and 600 thousand tomans. Tasnim concluded based on this data that with a housing loan from 'Bank Maskan,' one can only buy about 3.8 square meters of housing in Tehran. Accordingly, considering the price in district one of Tehran, where the average price per square meter of residential units has increased to about 166 million and 400 thousand tomans, one can buy about 4 square meters of housing with a housing loan. The decrease in people's purchasing power is the most important factor preventing applicants from obtaining housing, and in this regard, this summer, the Research Center of the Parliament reported that until the beginning of the 90s (2011), the first to third deciles were practically deprived of access to suitable housing due to their inability to pay bank installments; currently, these three deciles are 'absolutely' unable to secure the housing they need, and the fourth and fifth deciles, and even part of the sixth decile, are 'relatively' unable to provide the housing they need for their residence. Ebrahim Raisi, during the electoral competition and after entering the presidential office, promised to build one million housing units per year, but more than two years into his administration, there has been no achievement in this regard. The housing deadlock in Iran; controversy over sending Chinese criminals for housing construction in Iran. The calculation of the Center for Islamic Labor Councils of Tehran; the livelihood basket is 32 million and 850 thousand tomans. Experts: Expect a sharp increase in housing prices in 1403 (2024). Half of Iranians live below the absolute poverty line; Raisi's deputy: wage growth should align with the economic conditions of the country. The government's formula for housing construction; cheap oil for the Chinese, Chinese houses for Iranians. The Minister of Roads' reaction to importing labor and housing technology from China: we are looking to attract foreign investment. The statistical housing freeze by the Ministry of Roads has lasted 39 months.