No country has a housing stock market
The Chairman of the Board of Directors of Iran Commodity Exchange explained the process of setting up the real estate exchange, real estate and its benefits.
According to the International Exhibition of Iranian Stone, Shahin Cheraghi stated: In any economy, in accordance with the prevailing conditions, various tools should be used to organize the economy. Perhaps some people, arguing that we do not have the experience of setting up a real estate exchange in other countries, believe that setting up this stock exchange cannot help improve the situation in Iran in this area. But this is not our opinion.
The Housing Bank failed to perform its duties
He added: "Major construction projects in the field of housing and construction, because the housing bank has not been able to perform its duties well, have been halved and the contractor has suffered financial losses." On the other hand, we don't have a lot of word-makers in the country in the true sense of the word, because they have little access to financial resources and parallel markets.
Cheraghi called the involvement of this stock exchange in the activity of real estate companies a false claim and emphasized: the launch of real estate stock exchange is not going to hinder the activity of real estate agencies in the city.
The member of the Supreme Council of the Stock Exchange announced that three important pillars in the field of real estate are located next to each other and said: They market, put together, and take their share of the market based on a logical and predetermined framework.
According to him, the real estate exchange has the ability to give transparency to the housing market and manage supply and demand in a competitive environment. Of course, this market is not limited to real estate and includes large airport and freeway projects.
The Chairman of the Board of Directors of Iran Commodity Exchange stated that at the beginning of this movement we need instrumentation and institutionalization, reminded: in the current sensitive situation, opportunities should be used and this high volume of liquidity in society to one side Let it guide the interests of the country. Undoubtedly, the capital market has the ability to create transparency in housing transactions and prevent misinformation in this environment.
According to Cheraghi, another feature of this market is the determination of the index for pricing in the field of housing and real estate; This is an issue that has been heavily criticized by the public and can be resolved with the help of the stock market.
View of the real estate trading process
He gave an overview of the process that is to take place in this market: the landowner, his land, the construction company, the technical and managerial capacity, and finally the people, their financial capacity. These three pillars are put together in the form of an SPV, which is reliable between all three, and securities are issued. These bonds are listed on the stock exchange and eventually the desired building or project is created.
The Chairman of the Board of Directors of Iran Commodity Exchange mentioned the establishment of regulations, activation of operational and executive institutions, definition of regulatory and dispute resolution elements and finally the trading system as the needs of setting up a real estate exchange and added: Transparency and gaining people's trust in participation and participation in mass construction and construction projects. Unfortunately, people do not have the confidence to participate in pre-sale projects.
Justice shares; Real Estate Exchange Guarantee
Cheraghi cited the other features of the real estate exchange as the possibility of securing justice shares for the use of purchase loans and the possibility of renting on the condition of ownership in mass construction projects: "We will not allow a government stock exchange to be established." We will reduce the stocks of institutional sectors to be managed by the private sector.
He went on to say that creating a platform for housing pricing in the housing market is the most important challenge, noting that in this high market, despite the demand of governments, the trend of increasing housing prices is clear, and this is the most important challenge we will face. Determining the tax liability of securities transactions, conflict of interest between different institutions in the field of housing, and the inconsistency and inconsistency of real estate are other challenges that we must address.
