Page 53 - IRANRptMay21

decimating the domestic clothing manufacturing and retailing sectors, Abolghasem Agahhossein Shirazi was quoted as saying. Iran’s clothing industry remains traditionally based on in-store shopping unlike in the West where many consumers now prefer to shop online.
"Sales of clothing are down to almost zero compared to last year when the market was booming and Iranian production was stable. Unfortunately the coronavirus outbreak has dealt a fatal blow to clothing manufacturers," Shirazi said.
The latest severe decline of the Iranian rial (IRR) was yet to affect offered prices on clothing as an abundance of items was already sewn before it began, noted Shirazi. However, items produced after the new Persian year commenced on March 20 were seeing 30% to 40% price hikes due to the weaker rial driving up costs on imported raw materials, he added.
“As people are housebound, they have few or no requirements for new clothes and the industry now has a glut of items to move,” Shirazi concluded.
9.1.10 Property & construction sector news
Iranians become top foreign buyers of Turkish homes
Iranians have risen to the top of the chart for foreign citizens buying residential real estate in Turkey, data provided by the Turkish Statistical Office (TUIK, or Turkstat) showed on March 15.
The proliferation of buyers from Iran is primarily down to the Erdogan administration’s move to allow a foreigner who spends a minimum of $250,000 on a property in the country to obtain a Turkish passport. The value of the passport is prized by many middle-class Iranians. Previously, such Iranians would look to Canada or the UK for a second home, but in recent years these countries have made travel and market access for Iranian passport holders more difficult.
In February, Iranians bought 477 apartments and holiday villas in Turkey, TUIK said. Over January and February, 936 Iranians purchased property in the country.
Iraqi citizens took second place for purchases, buying 432 residences in
53 IRAN Country Report May 2021 www.intellinews.com