Housing price climbs 3.8% in Tehran City

February 25, 2020 - 15:48

TEHRAN- Housing price rose 3.8 percent in Tehran City during the past Iranian calendar month of Bahman (ended on February 19), compared to its previous month, ISNA reported on Tuesday.

The housing price has also climbed 43 percent in the capital city in Bahman of this year from the same month in the previous year.

As reported, the number of real estate deals increased 25 percent in the past month from its preceding month and 42 percent from the same month of the past year.

Two month ago, Deputy Transport and Urban Development Minister for Housing and Construction Affairs Mahmoud Mahmoudzadeh had said that the government was planning on launching a national real estate and housing system, aimed at controlling the country’s housing and real estate market by the end of the current Iranian calendar year (March 19, 2020).

“In order to control and regulate the real estate market, the Ministry of Transport and Urban Development is following four major programs which include taxing vacant houses, completing Mehr housing units, constructing and supplying new housing units through the National Housing Plan and finally setting up a professional real estate and housing system,” the official explained.

According to Mahmoudzadeh, one of the main goals of establishing this system is to identify vacant and unused houses in order to receive tax from the owners. 

“The system will be able to bring back 2.6 million vacant housing units into the real estate market, and consequently affect the rent prices significantly,” he said.

MA/MA

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