Housing rental increases by 48% in Tehran city in one month over one year

TEHRAN – The Central Bank of Iran (CBI) has announced that the price of renting has increased by 48.4% in the city of Tehran during the eleventh Iranian calendar month Bahman (ending February 19), compared to the same month of last year.

The CBI also announced that the average house price increased by 0.4% in the capital Tehran during the eleventh month, compared to the previous month, and by 16.4% compared to the same month last year. .

Housing prices in Iran have steadily increased over the past year due to various internal and external factors.

And, for the coming months, a number of factors are mentioned to affect the housing market in Iran.

One factor is the possibility of reviving a 2015 nuclear deal signed between Iran and world powers.

Some experts believe that if the mentioned agreement, known as the Joint Comprehensive Plan of Action (JCPOA), is revived, the price of housing will see its biggest drop in history.

As Mostafa Gholi Khosravi, head of Iran’s Syndicate of Real Estate Advisers, recently said: “The housing market is awaiting the results of the [JCPOA] negotiations, and with the positive shock that the agreements bring to the market, sales will increase in the coming months”.

He thinks the market will stabilize towards the buyer and the price will decrease.

MOM

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