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Vahedi: The Government Needs to Take ‘Serious’ Decisions about Housing Market

Housing Market in Tehran Iran

The Director General of Tehran Roads and Urban Development Department, Fariborz Vahedi says the Iranian new government can resolve issues with regard to housing market in Tehran only by taking serious decisions.

Iranians are currently suffering from the existing issues in the country’s housing market. House prices have reportedly increased by over three times, compared with five years ago. Many citizens of Tehran are simply unable to buy new house units.

“The Iranian government should start building new houses in lands which are currently occupied by military forces in the east and west of Tehran,” Fariborz Vahedi remarked in an interview with local media.

According to Fariborz Vahedi, the Tehran Municipality cannot force the armed forces to leave Tehran for other cities. “Although the officials of the Tehran Municipality maintain good relations with army’s leaders, they have failed to convince military forces to leave Tehran,”

Despite being sanctioned by the European Union and the U.S. government, foreign companies want to enter Iran’s housing market.

“International companies are interested in investing in the Iranian housing market. Accordingly we have received a large number of proposals from foreign companies with regard to building residential complexes in Tehran,” Fariborz Vahedi said on Wednesday.

Vahedi says many people can buy units in complexes built by multinational companies. “Studies suggest that more people will be able to pay for units in these types of houses and apartments,”

Around 8.3 million Iranians are reportedly living in Tehran. It is good to know that Tehran is Iran’s largest city and urban area, and the largest city in Western Asia. According to the figures for the year up to May 2012, almost 73 percent of the Tehrani families own homes.

Under Mahmoud Ahmadinejad, Iran’s housing sector was affected by the nation’s economic crisis. In recent years, irregular fluctuations in Iran’s foreign currency exchange markets have caused excessive problems for local businessmen and investors.

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