Mortgage; Facilitation of owning a house or buying a 5-meter house? – Tejarat News
According to Tejarat News, with the available facilities, it is possible to buy a residential unit below 6 square meters, but considering the “purchase price of loan points”, the loan efficiency reaches below 5 square meters. This is while the minimum size of the loan is required to be 20 square meters and normally 50 square meters; But since 1985, it has been below this level.
In progressive countries, in the field of housing financing using bank facilities, at least 70% of the housing purchase cost is paid to applicants in the form of long-term loans.
In many countries, the loan repayment period is set between 25 and 30 years, and in this way, the monthly installment becomes an affordable amount for households.
In addition, the interest rate of these facilities is usually low and affordable for households. In some countries, up to 90% of the purchase value of residential units is paid to long-term loan applicants with affordable installments.
Reducing the power of mortgage loans
Surveys show that since 1985, the purchasing power of mortgages in Tehran has always been less than 20 square meters. The purchasing power of 20 square meters of home loan is actually the minimum that can be used as an effective loan for first-time homeowners.
If the purchase loan includes 20 square meters of the cost of buying a normal and medium unit, a person can buy a small unit of 40 to 50 square meters by financing another 20 to 30 square meters. But the current loan is now equivalent to about a quarter of the minimum purchasing power of relatively efficient loan coverage.
In the situation that since 1985, the coverage of housing loans has always been less than 20 square meters, in 1994 and after the deflation of the housing price bubble after the leap period of 1992 and also after the housing loan increased from 35 million Tomans to 60 million Tomans was increased, the coverage power of 14.4 square meters was created for the bank facility for housing purchase.
Although this amount is still far from the coverage power of 20 square meters, it is the highest level of coverage of the loan from the cost of purchasing housing since 1985. After that, the coverage of housing loans has always been less than this amount.
Source: the world of economy