Housing Loans Cover the Cost of Approximately 'Eight Square Meters of Housing in Tehran'

A real estate official warned that the slight increase in housing loans to 650 million tomans, given the current housing prices in Tehran, can only cover 'about 8 square meters of housing.' In a report from 'Eghtesad News,' Davood Beiginejad, vice president of the Tehran Real Estate Agents Union, stated that with current prices of 80 to 90 million tomans per square meter for housing in Tehran, housing loans provide less than eight square meters. Beiginejad also added that when the housing loan increased to 550 million tomans, it was a significant amount and the market welcomed it. This real estate representative also pointed out the necessity of securing financial resources for these loans, stating that banks must allocate 20% of their loans to the housing sector according to the Housing Production Leap Law, but their performance indicates that this requirement has not been fully implemented. Beiginejad emphasized that the final price of these loans and their implementation by banks are of great importance. According to him, the conditions of guarantors and the price of documents also play a significant role in the effectiveness of these loans. Field research by 'Donya-e-Eqtesad' shows that the average rent in District 1 is about 75 million tomans monthly and 1 billion 115 million tomans for the deposit. Accordingly, this newspaper reported that the monthly rent in District 3 is around 50 million tomans, with the deposit also at the same average level as District 1. Independent experts and analysts, based on economic statistics and household living conditions, report a significant portion of the population is exiting the housing demand circle. In this regard, the website 'Khabar Online' previously quoted a housing analyst stating that the main reason for housing poverty is the rising costs, especially housing costs, outpacing income, and currently, four income deciles have completely lost the ability to purchase housing. The latest official statistics also show that from 1395 to 1401, over 48% of tenants in Iran have fallen below the poverty line. Additionally, according to statistics, the population living below the poverty line in Iran reached over 33% by the end of 1401, which many experts believe, considering the inflation of the past two years and the rising trend of currency prices in the country and further depreciation of the national currency, the population of the poor has exceeded 50%. Reports indicate that one of the worst types of poverty is housing poverty, which has sharply increased with the price of each square meter in Tehran rising from 5 million 600 thousand tomans in Esfand 96 to 88 million 500 thousand tomans in Shahrivar 1403.