Number of Renters in Tehran Exceeds Homeowners for the First Time
According to the latest reports, in 1400 (2021-2022), the number of renters in the capital exceeded the number of homeowners, and the official rate of rent increase in Tehran, which was reported at around 30 percent until last year, surpassed 51 percent in December of this year.
This comes as a member of the parliament’s presiding board announced two weeks ago that according to official statistics, “the price of land in Tehran has increased by approximately 40 times on average over the past 10 years, and the price of housing has increased about 20 times, with the lower three deciles of society needing to wait 120 years to purchase a 70-square-meter unit.”
According to official statistics, the urban rental rate across the country increased from 18 percent in 1365 (1986-1987) over thirty years to 38 percent in 1395 (2016-2017). In 1398 (2019-2020), 42 percent of people in Tehran were renters, and now in 1400 (2021-2022), the number of renters in the capital has exceeded homeowners.
Official reports from Iran’s National Statistical Center also show that in the years 1395 and 1396 (2016-2018), the average share of housing costs from household expenses was 44 percent, which increased to 55 to 60 percent of household expenses in the years 1399 and 1400 (2020-2022). According to Rostam Qassemi, the Minister of Roads and Urban Development, currently, on average, 60 to 70 percent of household expenses are spent on housing costs.
In recent years, numerous official reports have been published regarding the housing situation, the dramatic increase in rental prices, and the astronomical growth in housing prices, particularly in major cities such as Tehran.
In the latest official report published by IRNA, the Islamic Republic’s state news agency, it is stated that the rent increase rate across the country has risen from 32.4 percent in December of last year to 54.2 percent in December of this year.
Source: Radio Farda
