TEHRAN, Iran, Nov. 6
Trend:
The Deputy Head of Tehran Association of Realtors announced a 100 percent growth in housing prices since the beginning of the current Iranian year (started on March 20).
"We anticipate that in the second half of the current Iranian year (started on March 20), the housing prices will increase more than the inflation rate,” Hesam Oghbaei, the deputy head of Tehran Association of Realtors said, Trend reports citing Mehr News Agency.
He went on to say that the average apartment price in Tehran is over $5,900 per meter Square.
“The government should plan to control the supply and demand in the housing market,” he said.
He pointed out that in the first six months of the current Iranian year (started on March 20), the housing market was affected by factors such as the coronavirus outbreak, the foreign currency and gold market fluctuation, and even the stock market.
"There is no capacity to further increase in housing prices in the second half of the year, due to reduction in people's purchasing power,” he said. “Currently no one takes the risk of selling their house to buy a bigger house due to rise in prices.”