The uptrend in private sector investments in the housing sector is the conclusive sign that the long-ailing sector is enjoying a boom period, a senior official at the Ministry of Roads and Urban Development said.
"According to latest reports by the Central Bank of Iran, the private sector's housing activities experienced a positive growth last year, as investments in home construction during the first nine months of the year [ended Dec. 21, 2017] increased by 12% compared with the same period of the year before," Ali Chegini, the head of Planning and Housing Economy Office at MRUD, also told HIBNA.
This is while previous data for the preceding years had indicated falling investments. That was during a long five-year period of recession for the beleaguered housing sector that had failed to rebound following Iran's nuclear deal as other sectors did. The sector also witnessed some of its steepest declines yet during the period, as it contracted by 13% and 17% in the fiscal 2015-16 and 2014-15 respectively.