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Iran: Housing in the limelight

TEHRAN, Aug. 1 (Mehr News Agency) - Iran's government applies three strategies to reduce the house price, said the housing and urban development minister in Tehran on Wednesday.

The first approach is to provide the applicants with rental houses, Mohammad Saeidikia said, adding the government will offer loan and land to the applicants.

The house will be rentable for five years and after that the lessee can sell it, he announced.

The first move will be followed up with allocation of lands to the mass constructors in installation Saeedikia said, announcing the third strategy is to build houses in rental lands.

The cooperatives minister announced all the organizations' preparedness to support low-income strata.

He said that constructing 1.5 million houses for the low-income people could be an approach to the goal.

Attending the inauguration ceremony of the 7th International Construction Industry Exhibition, Alireza Tahmasbi, the industries and mines minister, highlighted the housing issue.

He said that the government's plan is to construct 1.5 million residential units in the current Iranian year (to end March 20, 2008), adding the figure will be increased to 9 million for the next five years.

He said that an average 8-12 percent of the countries' gross national product (GNP) is earmarked to the housing sector - the same figure in Iran.

The Economic Affairs and Finance Minister Davud Danesh-Ja'fari said that the transfer of house loan will be legalized.

He added that the government will hinder the illegal loan transfer.

He said that the black marketing of the loans was common in the past which is needed to be legalized.

Iran International Exhibition Company Head Hamid Qavam-Shahidi said that $38 billion worth of investment is made in the housing sector per annum.

"Of the figure, some 90 percent is related to the nongovernmental sector," he added.

... Payvand News - 8/2/07 ... --

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