The cities in evolution leave some parts of theirs, out of the renewal process. Generally These districts that called deteriorated areas are populated by poors and tenants. The landlords that often live in other parts, don’t have tendency to renew their properties because of non economical justification. These parts that approach to vulnerable area in regarding of social and structural terms, couldn’t restore without kind of subsidies or patronages. So governments and municipalities obligate this duty in spite of less effectiveness due to insufficiency of resources.
Housing is the main portion of urban fabrics and deteriorated areas. This study fouses on housing finance in those areas and reseached to find best way for financing of housing renewal in circumstance of Iraninan finance sector in Status quo and near future.
The main method of research is a qualitative; Grunded Theory, so that we have several interviews with representatives of three groups of people: constructors, debt providers and planners & policy makers in deteriorated areas Of Tehran City. Besides, quantative tools for a descriptive awareness of current ways for financing and documentary methods for surveying of new ways of housing finance in Iran and experiences of many developing countries (South Korea, Turkey, Maleysia, China) in renewal finance, have been used.
According to results there have been saturation on six ideas:
1- Repricing of loans as a way of persuading of debt providers
2- Issuing of competitive bonds in scale of obligative loans of deteriorated areas.
3- Special deteriorated area taxation
4- Issuing of project oriented bonds like REIT or Islamic boads (Sukuk e Estsna) in deteriorated areas.
5- Establishing a Housing Guarantee Company that is specific for deteriorated areas.
6- Using of Donors potential in making dwelling for poors by manged funds method in existing financial institution.