A 2.4 billion housing loan covers only 23% of a house

A loan of two billion and 400 million tomans for the purchase of housing and furniture for Tehrani couples covers about 23% of the average price of a 50-meter apartment in Tehran.

According to ambassador Arjan, the ceiling for housing loans in Tehran for couples is two billion tomans, which reaches 400 million tomans including the Jaala loan.

According to tomorrow's report; The average price of a 50-meter apartment in different neighborhoods of Tehran starts from five billion and 500 million tomans and reaches up to 16 billion tomans. The amount that the 2.4 billion loan for the purchase of housing and furniture can only cover 23% of its purchase cost.

The amount of housing loan in Tehran is one billion tomans for individual applicants and two billion tomans for couples. Obtaining this facility requires the purchase of TSE bonds from the OTC.

In order to get two billion tomans home loan, the couple must buy 4,000 bonds. The price of these bonds is determined daily in the over-the-counter market, and including the last price of 119 thousand tomans for each paper, the purchase cost reaches 476 million tomans.

The interest rate of the home loan is 22.5% and the applicants must settle the facility within 12 years in the simple repayment method. The monthly installments of the couple's 2 billion toman loan amount to more than 40 million tomans, which is a significant amount of a household's income.

In addition to the housing loan, it is also possible to receive a loan for the repair and completion of residential units. The ceiling of this loan is 400 million tomans, and couples can receive this facility along with the home loan.

Getting a Jaala loan also requires the purchase of 800 sheets of Tese bonds, which, considering the price of 119 thousand tomans per sheet, the total cost reaches more than 95 million tomans. The interest rate of Jaala loan is also 22.5% with five-year repayment. Its monthly installments amount to more than 11 million Tomans.

But it should be seen that receiving two billion and 400 million tomans of facilities can be enough to buy a portable apartment in Tehran. In this report, we have gone to 50-meter houses in different neighborhoods of Tehran to see if it is possible to buy a house with two billion and 400 million tomans.

What is the price of a 50-meter apartment in Tehran?

A look at the price of 50-meter apartments in different neighborhoods of Tehran shows that the average price of these residential units per meter is 202 million tomans. That is, to buy a 50-meter apartment in Tehran, you must have a budget of at least 10 billion tomans. A figure that is seven billion and 600 million tomans more than the 2.4 billion loan.

For example, a 50-meter apartment in Jihun, which was built in 2006, costs seven billion and 700 million tomans. Another 50-meter apartment in Narmak with a building life of 15 years is being sold in the housing market at a price of 16 billion tomans. The amount is far compared to the 2.4 billion loan for the purchase of housing.

With a budget of 8 to 10 billion tomans, you can go to residential units in neighborhoods such as Pirouzi, Majidieh, Briyank and Naziabad, where these 50-meter apartments are old in terms of the year of construction and do not have complete facilities.

The cheapest 50-meter house is in Molavi neighborhood of Tehran, which costs five billion and 500 million tomans.

How much is the 2.4 billion home loan enough to buy a house?

The loan of two billion and 400 million tomans for the purchase of housing and furniture for Tehrani couples covers only a small part of the cost of buying a house. Based on the average price of 50-meter apartments in this list, the share of this facility is 23.7%, and buyers must allocate more than seven billion Tomans of their capital to buy a house.

Even in the cheaper neighborhoods of Tehran, this loan is not enough to buy a residential unit. The cheapest 50-meter apartment in this list is located in Molavi neighborhood, which costs five billion and 500 million tomans. In this case, the facility of two billion and 400 million tomans covers less than 50% of the price of the house.

The higher the price of a 50-meter apartment in different neighborhoods, the lower the share of the loan from the final purchase cost. For example, the price of a 50-meter apartment in Tehran Pars reaches 14 billion and 800 million Tomans, and the facility in question covers only 16.2% of this amount.

Who is a home loan suitable for?

Obtaining a housing loan together with a loan for construction alone is not enough to buy housing, even for portable units. Due to the high price of housing in Tehran, this facility alone does not provide the possibility of buying a residential unit. Although it can cover a part of the purchase cost for people who have more capital to buy a house.

Also, home loan applicants should pay attention to the price of Tese bonds and the high amount of monthly installments before receiving a loan. The monthly installments of both housing loans and Jaala loans are more than 51 million tomans, and the cost of purchasing bonds for both facilities reaches more than 500 million tomans.