The new terms of mortgage were announced – Tejaratnews
According to Tejarat News, the ever-increasing increase in housing prices and the astronomical price for buying a house in the capital has made Bank Maskan to pay applicants a new loan with a 20-year repayment period.
While these days we continue to see the growth of housing prices in the market, the new package of Housing Bank has been presented to the central bank to increase the property purchase facility limit, because the current loan is not enough to buy 8 meters.
The report on housing market developments (prices and rents) from the Central Bank gave a new shock to the housing applicants, and the applicants who thought that after the price growth in November, they will witness a stop or drop in prices in December, came to the conclusion that Waiting and becoming an observer in the housing market will only lead to one result, and that is falling behind in maintaining purchasing power.
Yesterday, the central bank announced the average purchase and sale price of one square meter of residential unit infrastructure traded through real estate trading companies in Tehran city of 480.7 million rials, which indicates an increase of 2.9% compared to the previous month.
According to Central Bank statistics, the number of residential apartments traded in Tehran in December 1401 reached 10.2 thousand residential units, which shows an increase of 27.2 percent in the previous month and 4.7 percent in the same month of the previous year.
Although these statistics were predictable and whenever the price of housing increases, the number of applicants for purchase decreases and as a result, the number of applicants for construction from the builders also decreases. This decline in investment in the housing sector will ultimately cause the balance between supply and demand and the monthly growth of housing prices.
Some experts and activists of the housing market believe and claim that the reality is that we are witnessing a fall in the number of building permits issued monthly and annually, and we are experiencing a decrease in the desire for new constructions.
New mortgage terms with 20-year repayment
Maskan Bank announced the delivery of a 200 million toman rural housing loan to the bank’s branches. This loan is paid to applicants with 20-year repayment and 5% interest.
According to the notification of the Central Bank, the payment of rural housing facilities with new conditions was placed on the agenda of Housing Bank branches across the country.
Based on this, the individual ceiling of rural facilities for each residential unit reached 200 million tomans, and the interest rate of these facilities is 18% (5% of the applicant’s share and 13% of the National Housing Fund’s share).
Those applicants whose introduction letters were submitted and registered to the bank branches before the new notification and their facility agreement was not registered in the registry office, if they present a new introduction letter from the Islamic Revolution Housing Foundation of Iran (validity notified in 1401) can Benefit from the ceiling of the new notified facility.
Source:Economy News