Rents in Tehran increased by about 51 percent within a year

The Central Bank of Iran's survey of the housing rental price index in January 1402 indicates a 50.7 percent increase in house rents in Tehran compared to January of last year.

According to the report, this index also increased by 54 percent compared to all urban areas in the same month last year.

The Central Bank also estimated the average price per square meter of a residential unit in January of this year at 32,936,400 Tomans.

This figure represents a 1.1 percent increase compared to December of this year, when the average price per square meter was 32,590,800 Tomans. However, in January 2020, the average price per square meter of housing was 27,386,000 Tomans, which is an increase of 20.3 percent in one year.

In its report, the Central Bank also identifies District 1 of the capital as the most expensive area in Tehran, with an average price per square meter of 70,218,000 Tomans, and District 18 as the cheapest area in the capital, with an average price per square meter of 15,647,900 Tomans.

The Statistical Center of Iran recently announced that the annual inflation rate for households in the country in January 1402 reached 42.4 percent, and the point inflation rate this month reached 35.9 percent.

The annual inflation rate is the percentage change in the average price index numbers in a year ending in the current month, compared to the same period before.

In the major group of "non-food goods and services," residential unit rents have seen the largest increase in price compared to the previous month.

Official reports from the National Center for Statistics of Iran show that in 2016 and 2017, the average share of housing in household expenses was 44 percent, while in 2019 and 2021, this figure accounted for between 55 and 60 percent of household expenses.

According to Rostam Ghasemi, Minister of Roads and Urban Development, an average of 60 to 70 percent of household expenses is now spent on housing.

In recent years, numerous official reports have been published about the housing situation, the skyrocketing rents, and the astronomical growth in housing prices, especially in large cities like Tehran.

Recently, there have been numerous reports of rooftop rentals and sleeper buses being rented by citizens who are unable to pay rent in Tehran.

The increase in rent rates in major Iranian cities, especially Tehran, has been so great that the Economic Coordination Headquarters of Ebrahim Raisi's government has announced efforts to control rents, an effort that has so far yielded no results.

Source: Radio Farda