Housing price rises 1.2% in Tehran City
Average housing price rose 1.2 percent in the capital Tehran during the eighth Iranian calendar month of Aban (ended on November 21), compared to its previous month, according to a report by the Central Bank of Iran (CBI).
Based on the CBI data, the average price for one square meter of a residential unit in Tehran stood at 320.1 million rials (about $7,621) during the mentioned month, IRIB reported.
The average housing price in the said month also increased 17.7 percent in comparison to the same month in the previous fiscal year.
Although, the number of real estate deals stood at 7,300 in the capital city in the eighth month of this year, rising 33.5 percent and 63.5 percent, from the previous month, and the same month of the past year, respectively.
The housing market in Tehran was the second-highest returning market in Iran among the country’s four major markets in the previous Iranian calendar year (ended on March 20) with 85 percent annual growth.
The information obtained from Kilid website (which is a major platform for housing trades) indicated that the housing price index in Tehran grew by 85 percent in the previous Iranian calendar year, compared to its preceding year.
The highest monthly price increase of 12.5 percent occurred in the Iranian calendar month of Mordad (July 22-August 21, 2020), while the biggest monthly price decrease occurred in Azar (November 21-December 20, 2020) with a decline of 8.1 percent.
Back in April, the head of Iran’s Property Advisers Union said housing prices in the country should decrease at least 25 percent in order for people to be able to afford to purchase.
Mostafa Gholi Khosravi stressed the need for establishing a market regulation headquarters for the housing sector to monitor the activities of dealers and real estate agencies in order to balance the prices.
Housing prices in Iran have been constantly rising over the past year due to various internal and external factors.
Source: Tehran Times
Top News
Six last month
MinRes halts Bald Hill mine amid lithium price rout
Iran Alloy Steel Company intends to purchase 150 tons of Low-Carbon Ferro Manganese through public tender
Gold price faces worst week since 2021 as Fed signals no rate-cut rush
Iran Alloy Steel Company intends to purchase 12 tons of ferrotungsten through public tender
Swapping aluminum for copper will maintain China’s resources, group says
Gold loses some luster after Trump’s decisive win
Hedge funds slash bullish wagers on gold over Trump election win
Iron ore price flirts with key $100/t level on firm demand, China stimulus hopes
Families gather at South African mine shaft where hundreds are feared stuck underground
BHP to spend up to $14 billion on Chilean copper expansion
Chile’s rare salt flat fish faces threat from lithium mining project
British Columbia creates new mining ministry to tackle critical minerals amid doubts over capacity
China’s germanium, gallium ban could cost the US $3.4 billion
South Africa police standoff with illegal gold miners escalates
Iran Alloy Steel Company intends to purchase 150 tons of Low-Carbon Ferro Manganese through public tender
Iran Alloy Steel Company intends to purchase 12 tons of ferrotungsten through public tender
Iron ore price flirts with key $100/t level on firm demand, China stimulus hopes
Newmont sells Ontario gold mine to Orla for $850 million
BHP warns Australian mining not ready for low-cost competitors
Iran Alloy Steel Company intends to purchase 12 tons of ferrotungsten through public tender
Iran Alloy Steel Company intends to purchase 150 tons of Low-Carbon Ferro Manganese through public tender
Chile’s rare salt flat fish faces threat from lithium mining project
British Columbia creates new mining ministry to tackle critical minerals amid doubts over capacity
Newmont sells Ontario gold mine to Orla for $850 million
BHP warns Australian mining not ready for low-cost competitors
Resolute Mining says it will pay Mali $160 million in tax dispute
Trump chooses oil fracking boss as energy secretary
Gold loses some luster after Trump’s decisive win
