Real Estate Consultant Union Member: Rental Prices Increased 300%; Tenants Selling Their Assets
A member of the real estate consultants union says that rental prices have increased by 300 percent in just the past three years, with a significant portion of this increase occurring in recent months, and it can be said that rental prices have increased “horrifyingly” in the past few months.
Abdollah Otadi said to ILNA on Monday, June 13, that we “constantly” witness in real estate consultant offices that tenants are selling their cars and assets to secure down payments and rental fees.
According to him, the rate of rental increase is significantly higher than the 25 percent rate set by the government, and in an area like “Pirouzi,” we do not have two-bedroom units with the ability to pay 500 million in down payment and four million tomans in rent, and we are witnessing intense pressure on tenants.
Otadi continued, saying we are witnessing tenants moving toward the outskirts of Tehran.
He stated: “Today, tenants who come to real estate consultants for down payments and rental fees are explicitly saying that in order to be able to afford rent payments, they have become triple-job holders: ‘Today, the price of Maskan Mehr in the outskirts of Tehran, which was less than 20 million tomans in the late 1980s, has reached 3.5 billion tomans, and the condition of the housing market can be observed in this small sample.'”
According to the latest official government statistics from 2016, of approximately 24 million Iranian households, six million 750 thousand households are renting.
Source: Radio Farda
