Based on the CBI data, the average price for one square meter of a residential unit in Tehran stood at 394.14 million rials (about $1,313) during the mentioned month.

The average housing price in the said month also increased 32.8 percent in comparison to the same month in the previous year.

As reported, the number of real estate deals stood at 13,900 in the capital city in the third month of this year, rising 32.3 percent from the previous month, and 171.9 percent from the same month of the past year.

As previously reported by the CBI, the average housing price rose 16 percent in the capital Tehran during the last month of the past Iranian calendar year 1400 (ended on March 20), compared to the same month in the preceding year.

Based on the CBI data, the average price for one square meter of a residential unit in Tehran stood at 351.2 million rials (about $1,170) during the last month of the past year, up 6.2 from its previous month, and 16 percent from the same month of the preceding year.

Housing prices in Iran have been constantly rising over the past three years due to various internal and external factors.

Although, in early May, the chairman of Real Estate Agencies Union said, “This year is the year of lower housing prices; this condition will continue in the country for the next two years, and we will see a continuous decrease in housing prices”.

Mostafa Qoli Khosravi referred to a report released by Central Bank of Iran in terms of housing price in the first Iranian calendar month Farvardin (ended on April 20), and said: “The government is trying to compensate the housing shortage in the country with the National Housing Movement plan, and this plan is being prepared and implemented in several urban and rural areas”.

He said that there is currently shortage of about 720,000 housing units in the country, adding: “Every year, dilapidated apartments are added to this number, therefore, the current government intends to compensate for the housing deficit by recognizing this shortage and implementation of National Housing Movement.”

The market will react positively to the increase in supply, and the completion of the government plans including Mehr Housing and National Housing will control the uncontrolled growth of housing prices, he further predicted.

In early June, transport and urban development minister said that 1.35 million units of National Housing Movement are currently under construction throughout the country and the number is increasing every day.

Making the remarks in a ceremony to break the ground for starting the construction operation of 15,000 units of National Housing Movement in Chitgar region, northwest of Tehran city, Rostam Qasemi said, “With the support of the parliament and the credit provided for the facilities of National Housing Movement, we will proceed according to the schedule”.

After National Housing Action Plan (started in 2018), National Housing Movement is the government’s second major program to provide affordable housing units for the low-income classes.

The operation for the construction of 209,212 residential units of National Housing Movement began in early February.

National Housing Movement to construct four million housing units in four years is one of the major plans of the current government in the housing sector.

According to the plan, out of these four million residential units, 3.2 million units will be constructed in cities and 800,000 units in villages, some of these units are currently being constructed after providing lands and preparing the necessary conditions.

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Based on the CBI data, the average price for one square meter of a residential unit in Tehran stood at 342.7 million rials (about $1,228) during the mentioned month.

The average housing price in the said month also increased 16.9 percent in comparison to the same month in the previous fiscal year.

As reported, the number of real estate deals stood at 3,400 in the capital city in the first month of this year, falling 49.9 percent from the previous month, while increasing 63.7 percent from the same month of the past year.

As previously reported by the CBI, the average housing price rose 16 percent in the capital Tehran during the last month of the past Iranian calendar year 1400 (ended on March 20), compared to the same month in the preceding year.

Based on the CBI data, the average price for one square meter of a residential unit in Tehran stood at 351.2 million rials (about $1,377) during the last month of the past year, up 6.2 from its previous month, and 16 percent from the same month of the preceding year.

Housing prices in Iran have been constantly rising over the past three years due to various internal and external factors.

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The housing price in the capital city also experienced a 56.6-percent rise as compared to the same month in the past year.

The CBI report put the average price for one square meter of a residential unit at 296 million rials (about $7,047) in the capital city in the mentioned month.

As reported, the number of real estate deals increased 29.6 percent in the past month from its preceding month.

The housing market in Tehran was the second-highest returning market in Iran among the country’s four major markets in the previous Iranian calendar year (ended on March 20) with 85 percent annual growth.

The information obtained from Kilid website (which is a major platform for housing trades) indicated that the housing price index in Tehran grew by 85 percent in the previous Iranian calendar year (ended on March 20) compared to its preceding year.

The highest monthly price increase of 12.5 percent occurred in the Iranian calendar month of Mordad (July 22-August 21, 2020), while the biggest monthly price decrease occurred in Azar (November 21-December 20, 2020) with a decline of 8.1 percent.

Last month, the head of Iran’s Property Advisers Union said housing prices in the country should decrease at least 25 percent in order for people to be able to afford to purchase.

Mostafa Gholi Khosravi noted that the closure of real estate agencies due to the coronavirus pandemic has caused some problems in this market, calling for the re-opening of the agencies in compliance with health protocols.

The official also stressed the need for establishing a market regulation headquarters for the housing sector to monitor the activities of dealers and real estate agencies in order to balance the prices.

Housing prices in Iran have been constantly rising over the past year due to various internal and external factors.

Coronavirus has been reported to be a major factor affecting the housing prices in Iran as the pandemic has stoked concerns about losing one’s savings and more people entered the housing market.

“People are turning to the housing market in order to protect their savings in the face of rising inflation. No one sees housing as a short-term consumer commodity. Even real consumers view purchasing a home as a long-term investment,” Mehdi Soltan-Mohammadi, a housing expert, said.

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