Housing prices in Iran increased by about "35 percent" during the first two months of 2019.
In its latest report, published on Wednesday, June 27, the Central Bank says that housing prices have increased sharply in the first two months of this solar year compared to the same period last year, and the number of housing transactions has decreased.
The average housing price in Tehran increased by about 35 percent during the first two months of 2019 compared to the same period last year, and tripled compared to the same period in 2018.
According to this report, the average price per square meter of housing in the first two months of 2018 was about 5.7 million Tomans. Last year, this figure reached about 12 million Tomans, and in April and May of this year, it peaked at 17 million Tomans.
This statistic is consistent with reports from the Ministry of Roads and Urban Development. According to the latest report from the ministry, in May the total value of housing transactions in Tehran was 16 trillion tomans. In April this figure was 17.8 trillion tomans.
According to Central Bank statistics, the number of housing transactions during the first two months of the year has decreased by more than 19 percent compared to the same period last year, and has almost halved compared to April and May 2018.
In April and May of this year, a total of 12,553 housing transactions were completed in Tehran.
The 35 percent increase in housing prices within a year and its price tripling compared to April and May 2018 comes while the Statistics Center of Iran, in its latest report published last week, had estimated the inflation rate of the country's housing sector for May at only 23.7 percent compared to the same month last year.
The Central Bank report says that the distribution of the number of transactions carried out by different regions of Tehran in May 2020 indicates that among the 22 regions of Tehran, District Five, with a share of over 15 percent, and District Three, with a share of 4.4 percent, had the highest and lowest number of housing purchase contracts.
Also, the highest housing price was in District 1, with the price per square meter being about 34 million Tomans, and the lowest price was in District 18, with 7.8 million Tomans.
The Central Bank of Iran also says that housing rents in Tehran increased by 28.5 percent in May compared to the same period last year, and in urban areas by more than 31 percent.
Source: Radio Farda
