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Housing sector challenges and plans

Iranian nation is faced with another sharp rise in the price of housing sector. The National Action Plan for Production and Supply of Housing. That’s the Govt’s main road to sheltering the hard-up.

Production refers to constructing 400.000 small and medium flats cross-country, in one to two years. About half of those will be built in Tehran’s new SUBURBAN towns like Parand and Pardis. Supply on the other hand, means dipping partly into the pockets of those with more. But how much more?

Over the past two years, five out of 22 districts of the capital city, Tehran, saw housing prices more than double. That’s beginning in February 2018. To level the playing field, apart from the national action plan, there’s Mehr Housing, and Housing schemes ongoing by the Housing Foundation solo or in combo. That was founded in 1379, the year of the revolution.

There are of course house flippers who buy property just to sell at a higher price. And they are instrumental in keeping millions of apartments uninhabited--hoarded if you like—to push prices up, even when sales are at a low. 2.5 million units are empty nationwide half a million of them in the capital Tehran.

This has further exacerbated inflation. But 85 percent of properties are still traded by real consumers. And private constructors have built up big flats of at least 130 square metres mostly, in uptown and affluent areas, where people don’t need help to buy. The government has to aid those wanting 70-80 square metre flats mostly in or off south and east Tehran.

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