Iran boosts national program for community revitalization with cheaper home loans

The cheapest loans in Iran are about to become even more affordable. The goal is to accelerate a national revitalization program for distressed urban and rural areas.

On February 8, 2018, President Hassan Rouhani was joined by a host of high-level officials from the Ministry of Roads and Urban Development and the Central Bank of Iran to mark the launch of a national community revitalization program called Hope.

Rouhani called on CBI Governor Valiollah Seif to reduce the interest rates for loans aimed at purchasing and revitalizing homes in distressed areas from the Housing Savings Account (HSA) from the current 8% to 6%.

HSA is a popular initiative spearheaded by Bank Maskan, the agent bank of the housing sector, created to boost the purchasing power of people, especially first-time homebuyers.

See full article in the Financial Tribune.

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