ISNA: 50 to 100 percent increase in house rents in Tehran
While statistics from the Central Bank and the Statistics Center of Iran report a 35% increase in rents in Tehran and 39% in the suburbs of Tehran and other cities, a survey by ISNA News Agency shows that the actual growth in spring rents is at least double these figures.
Over the past few months, there have been many reports of significant rent increases and the market's disregard for the permitted rent increase ceiling of 25% in Tehran and 15-20% in other cities.
ISNA news agency cited a tweet by Rostam Ghasemi, the minister nominated by Iranian President Ebrahim Raisi for the post of Minister of Roads and Urban Development, who said, "The first step in the field of housing is to remove the sharp, unregulated blade of rent from the weak throats of vulnerable groups."
The report adds that the market floor, especially in affluent and semi-affluent areas, indicates a 50 to 70 percent, and sometimes 100 percent, increase in rent.
ISNA writes that in the most sought-after area of the Tehran housing market, namely District 5, the full mortgage rate for old units measuring 50 to 70 meters is at least 250 million Tomans, and for units less than 5 years old, it reaches 300 to 400 million Tomans, depending on the location and facilities.
The report adds that in Tehranpars East, located in District 4, which is also in high demand for purchase and rental, the full mortgage rate for units of 50 to 70 meters, depending on the age of the building and facilities, is set at between 200 and 350 million tomans. This is while last year, it was easy to mortgage an apartment in Tehranpars for 100 to 150 million tomans.
ISNA writes that the rental market situation in southern Tehran is also not very favorable; due to the density of the population, one must pay at least 150 million to mortgage an old mobile unit in areas 14 and 15, which, of course, often do not have full facilities. Surveys show that the proposed rental rates have increased compared to early summer, and even in the last two weeks, prices have risen.
Source: Radio Farda
