16.5 percent of bank facilities were paid to the housing sector in May
According to Iran EconomistCentral Bank in response to the report of Sharq newspaper on July 1, 1402 entitled “Housing facilities; We respectfully do not give loans”, announced: the facility of certificate of priority right can be obtained at the request of the applicant and by depositing in the operating banks, and according to the statistics obtained, this facility is generally used to buy housing; Therefore, in terms of substance, its mechanism and application is separate from the mandatory facilities of the Housing Production Jump Law, which relies on the construction and supply of housing.
The premium investment deposit account was formed in 2004 with the aim of equipping and directing resources in the housing sector, and natural and legal entities by making deposits in this account, in addition to receiving interest according to the interest rate of short-term investment deposit accounts, enjoy the privilege of receiving pre-emptive bonds. They also benefit from bank housing facilities.
Based on this, the certificates of priority right to use housing facilities are awarded to the holders of premium investment deposit accounts of Iran’s National and Housing Banks and through depositing in the said accounts and observing the waiting time, and applicants to receive construction/purchase facilities or housing renovations to In order to use these bonds, they should be deposited in the mentioned account.
The mechanism of the said account is designed in such a way that applicants who do not have the possibility and time (waiting period) to make a deposit in the aforementioned account (and comply with the waiting time to receive the facility), can purchase the mentioned bonds (from bond holders) through OTC companies take action.
The interest rate of the housing purchase facility from the aforementioned bonds is the same as other facilities granted by the banking network, the interest rate approved by the Monetary and Credit Council at the time of the contract (with a half percent discount on the interest rate of the said facility by the operating bank) and the costs of purchasing the certificates The right of priority to use the housing facilities is determined without the involvement of the banking network and in compliance with the rules and regulations governing the over-the-counter company, and the profit from the sale of the aforementioned bonds belongs to the depositors who are considered bond holders in compliance with the relevant laws.
The installments of the aforementioned facilities are set within the ceilings approved by the Money and Credit Council and taking into account the share of housing in the household budget in urban areas; For example, in Tehran, the installments of the mentioned facility for an individual ceiling of 400 million tomans, including the Jaale facility (in the amount of 160 million tomans) is 12 million and 500 thousand tomans.
It should be noted that in case of not receiving the said facility for buying housing, the amount of installments paid for the facility by the household should be spent on renting a residential unit. In addition, in order to be able to pay the monthly installments of the mentioned facility according to the financial capacity of the households, the applicants are able to pay the installments of the new ceilings of the facility in a staggered way.
According to the table above, the monthly installments of the mentioned facilities are 4,830,000 tomans up to 240 million tomans and 8,60,000 tomans up to 400 million tomans. These installments are 9,670,000 Tomans if couples use the limit of 480,000,000 Tomans and 16,120,000 Tomans if the limit of 800,000,000 Tomans is used.
In addition, applicants, if they wish, can benefit from the housing improvement facility up to 160 million tomans with monthly installments of 4,500,000 tomans in all urban areas.
It is worth mentioning that until the end of March of 1401 in the housing sector amounting to 3.457.1 thousand billion Rials has been granted by the banking network and in the current year until the end of May 2011 the amount of 268.5 thousand billion Rials has been granted in the housing sector. This part has been paid, while according to the summary of the banks’ ledger, the balance of the facilities granted by the banking network in the housing and construction sector in May 1402 is in the amount of 7503.7 thousand billion Rials, which is equivalent to 16.5% of It has allocated the entire balance of the banking network facilities.
In line with the implementation of the law on the jump of housing production and strengthening the supply and construction of housing in the country, the necessary measures for the implementation of the said law, including the drafting and notification of the implementation instructions of the aforementioned law, have been taken by this bank immediately after the notification of the law, and it is expected that it will be implemented smoothly. The implementation of the aforementioned law and the greater support of the banking network in this regard, in the coming years in the self-ownership sector and the national housing movement plan (applicants from the lower deciles of the society) will witness the acceleration and facilitation of housing construction (taking into account the construction potentials at the country level ) to be