Housing prices increased by 92 percent in Farvardin 1400 compared to the same month last year.

Central Bank statistics show that the average housing price in Tehran increased by 92 percent during Farvardin this year compared to the same month last year. In other words, housing prices have almost doubled.

According to a report published on Tuesday, May 27, on the Central Bank's website, the average price of one square meter of housing in March last year had reached over 30 million tomans, but in April this year it fell by three percent to 29 million and 322 thousand tomans.

The report says, however, that housing prices in Farvardin 1400 experienced a 91.7 percent increase compared to the same month last year.

The report did not explain the reason for the decline in housing prices in Farvardin compared to the previous month, but the exchange rate did decrease slightly in Farvardin this year.

On the other hand, demand for housing in Farvardin decreased by 60% compared to Esfand. The decrease in demand could be another reason for the drop in housing prices this month.

In April of this year, 1,243 housing units were traded in Tehran, while in March of last year, this figure was 5,272 units.

Source: Radio Farda