Iran to Lease Homes in New Public Housing Initiative

The Iranian government has announced plans to rent homes to low-income young couples as part of its first-ever public housing initiative.

The semi-official ISNA news agency said in a Wednesday report that the Ministry of Roads and Urban Development (MRUD) will purchase 10,000 homes until the end of the current Iranian calendar year in March to lease them under the new scheme.

According to the report, couples married within the past five years will be eligible to apply for the government-owned rental units. Rents under the program will be significantly lower than prevailing market rates, it said.

Other reports said that prioritizing newly married couples for the project aligns with Iran’s broader policies that are aimed at countering population aging.

MRUD’s head of housing and development department Habibollah Taherkhani said earlier this month that the first phase of the social housing scheme will be launched in Tehran province, which includes the capital, before expanding to other regions across the country.

Taherkhani said the project is intended to ease pressures caused by soaring property prices in Iran.

ISNA noted that the plan has also been welcomed by property developers in the country, as it allows them to sell more units at a time when the real estate market is struggling with recession. - Press TV