Member of the Real Estate Consultants Union: Rents have increased by 300 percent; tenants are selling their properties

A member of the Real Estate Association says that in the past three years alone, rents have increased by 300 percent, with much of this increase occurring in the last few months, and it can be said that rents have increased "horribly" in the past few months.

Abdullah Otadi told ILNA on Monday, June 13, that "constantly" we see real estate agents selling their cars and assets to cover mortgages and rent.

According to him, the rent increase is much higher than the 25% rate set by the government, and in an area like "Pirozi," we cannot afford a two-room unit with the ability to pay 500 million tomans in mortgage and 4 million tomans in rent, and we are witnessing intense pressure on tenants.

Mr. Otadi continued by saying that we are witnessing the migration of tenants to the outskirts of Tehran.

He stated: Today, tenants who turn to real estate consultants for mortgages and rents openly say that they have taken on three jobs in order to be able to afford to pay the rent: "Today, the price of housing in Mehr, the outskirts of Tehran, which was less than 20 million tomans in the late 1980s, has reached 3.5 billion tomans, and the situation of the housing market can be seen in this small sample."

According to the latest official government statistics from 2016, out of approximately 24 million Iranian households, 6.75 million households are renters.

Source: Radio Farda