Housing price drops 2.4% in Tehran city

April 30, 2022 - 10:34

TEHRAN- Average housing price fell 2.4 percent in the capital Tehran during the first Iranian calendar month Farvardin (ended on April 20), compared to its previous month, according to a report by the Central Bank of Iran (CBI).

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.

MA/MA

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