TEHRAN,Iran, June 16
Trend:
Iran's Mercantile Exchange has made necessary preparations to start trading houses, in order to reduce the prices on the market, stock market expert Mostafa Safari said, Trend reports via IRNA.
"The pre-sale of houses per square meter is a common method to provide financing for housing projects," said Safari.
"This option would allow the owners to sell their property per square meter. This plan was unofficially implemented in Qom city, and has shown good results. The Mercantile Exchange is currently working on the mechanism to make it work full scale," he said.
"The infrastructure for trading houses on the exchange is ready and it seems the plan would be interesting for the people and they can invest in the market," he added.
"Housing has always been interesting for investors and this plan can attract small capital to the market. People usually don't invest all their savings in gold or gold coins, so compared to that, the mercantile exchange plan for houses looks rather attractive," he said.
Iran's housing market has been in recession since February, due to the spread of COVID-19. Investments in Iran's housing market has grown by devaluation of national currency, which in turn led to irregular rise of prices.
