Average housing prices in Tehran increase by more than 118% over the course of a year
The Central Bank of Iran announced a more than 118 percent increase in the average purchase and sale price of one square meter of residential land in Tehran in November 2020 compared to the same month in 2019. The Public Relations Department of the Central Bank of Iran announced this news in a report on developments in the housing market in Tehran in November, published on Thursday, December 26.
According to this report, the average purchase and sale price of one square meter of residential unit infrastructure traded through real estate agencies in Tehran in November of this year was 271.9 million rials, which represents an increase of 1.8 and 118.2 percent compared to the previous month and the same month last year, respectively.
The Central Bank of Iran also reported that a review of developments in the housing transaction market in Tehran in November 2020 indicated a slowdown in the growth rate of housing transaction prices in Tehran this month compared to October of this year.
The number of residential apartment transactions in Tehran in November 2020 reached 4.5 thousand residential units, which represents a 48.4 percent decrease compared to the previous month and a 9.9 percent increase compared to the same month last year.
The average monthly inflation of housing transaction prices in October compared to September 2020 was 10 percent, which reached 1.8 percent in November compared to October this year.
The Central Bank announced that this incident is a sign of a slowdown in the growth rate of housing transaction prices in Tehran in November compared to October of this year.
The report on developments in the housing transaction market in Tehran in November 2020 is derived from raw statistics from the country's real estate transaction registration system, which is prepared and published by the Economic Surveys and Policies Department of the Central Bank.
Source: Radio Farda
