09.03.2012 - Tehran housing boom is last resort for Iranís savers squeezed by sanctions
Iranians are turning to real estate to protect savings, helping fuel a building boom in the capital, as international sanctions weaken the rial and the government curbs foreign- currency and gold purchases. Iranís economy is being squeezed by tougher sanctions imposed this year by the U.S. and European Union, which say they are needed to restrain the Islamic republicís nuclear program. Iranians stepped up purchases of gold, dollars and euros as hedges against the threat to stability...............................................Full Article: Source
Print