Renting and Mortgaging Homes in Tehran, a Market on Fire

As all essential commodities of life in Iran have become unprecedentedly expensive in the new year, one of the most fundamental human needs—shelter in Iran, particularly in the capital—has become an incurable source of suffering for tenants.

According to domestic media reports, the rate of increase in rental prices for 70 to 90 square meter apartments in Tehran has been higher than other housing units. So much so that to rent units with this square footage in various neighborhoods and areas of the capital, deposits ranging from 70 to 700 million tomans and monthly rents between 3 to 20 million tomans are required.

Khabbar Online reported that the owner of an 83 square meter unit in Azgel in northern Tehran is asking for a 500 million toman deposit and a monthly rent of 20 million tomans for his property.

Likewise, in Ariashahr in western Tehran, an 88 square meter unit can be rented and mortgaged for 13 million tomans monthly with a 250 million toman deposit. The minimum rental amount for 70 to 90 square meter apartments in this report belongs to an 84 square meter apartment on Pirouzi Street in southern Tehran, which requires a 550 million toman deposit and a monthly rent of 1.7 million tomans.