Buy a 8.5 meter house in Tehran / 7 million installment for a 15 meter room!
According to Tejarat News, the Central Bank has recently published a report on the amount of payment facilities to different sectors. A noteworthy point in this report is the 53.8% decrease in mortgage receipts.
As the statistics of payment facilities show, in the first 8 months of this year, 90,000 billion tomans of mortgages were paid, which is 53.8% less than the same period last year. In other words, the demand for a mortgage has been halved.
Buy an 8-meter room in Tehran!
But what is the reason? It seems that the decline in the purchasing power of mortgages is the most important factor that has led to a decrease in demand for this loan.
The amount of a mortgage in Tehran is 200 million Tomans for single people and 400 million Tomans for a couple. In addition, people can get a loan of 80 million tomans. That is, the total mortgage of an individual is 280 and a couple is 480 million Tomans.
According to the latest report of the Central Bank, the average price of a meter of a residential unit in Tehran is 32 million and 590 thousand tomans.
This figure means that a single person can buy an 8.5-meter room with the help of a mortgage. This area is a little more for a couple and reaches 14 to 15 meters. In other words, the purchasing power of a mortgage in Tehran is equivalent to buying a room and no more! Now either an 8.5 meter room or a 15 meter room!
7 million installments for a 15-meter room!
The noteworthy point in the story of buying a house is that people have to pay about 7 million tomans in monthly installments to receive a mortgage. In other words, a couple must pay a monthly installment of about 7 million tomans for a 480 million toman housing loan.
Another point is about the cost of buying a mortgage. Although the price of mortgage bonds has decreased, single people have to spend 30 million tomans to buy mortgage bonds (mortgage and forgery).
This amount reaches about 50 million tomans for couples. This means that people have to pay between 30 and 50 million tomans to buy bonds and pay monthly installments of up to 7 million tomans, but the loan they receive covers the cost of 8 to 15 meters of a residential unit.
Bring $ 1 billion in cash to become a housewife!
On the other hand, the average price of a 50-meter residential unit in Tehran is 1 billion and 600 million tomans. That is, a first-time couple must have at least one billion and 150 million tomans of savings in order to be able to buy a housing unit with a mortgage.
This amount of initial savings for single people is one billion and 300 million tomans.
This is despite the fact that before the housing price jump, mortgages could cover a significant portion of the unit price, and mortgages were an important incentive to buy a home.
But now such a loan is equivalent to 14 to 15 meters from a residential unit, and this is why the demand for a mortgage is reduced.