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Iran sees surge in price of apartments in Tehran

Business Materials 27 January 2022 13:55 (UTC +04:00)
Iran sees surge in price of apartments in Tehran

BAKU, Azerbaijan, Jan. 27

By Elnur Baghishov – Trend:

The average price of 1 square meter of an apartment in Tehran city was 329 million rials (about $7,842) in the 10th month of the current Iranian year (December 22, 2021 through January 20, 2022), Trend reports via the statistics of the Central Bank of Iran (CBI).

According to the statistics, the price of apartments per square meter increased by 1.1 percent compared to the 9th month of the current Iranian year (November 22 through December 21, 2021). So, the average price of 1 square meter of an apartment in Tehran city was 326 million rials (about $7,759) in the 9th month.

In addition, the average price of 1 square meter of an apartment in the 10th month increased by 20.3 percent, compared to the same month last Iranian year.

“The most expensive price for apartments between 22 districts of Tehran was registered in the 1st district over the 10th month. Thus, the price of apartments per square meter in the district amounted to 702 million rials (about $16,719). Meanwhile, the cheapest apartment prices in the 10th month were registered in the 18th district," said the report.

"So, the price of apartments per square meter in this district was 157 million rials (about $3,726). The prices in these districts increased by 17 percent and 28.8 percent, respectively, compared to the same month of the last Iranian year,” the statistics said.

Period

Percentage change

10th month of the current Iranian year (Dec. 22, 2021 through Jan. 20, 2022)

9th month of the current Iranian year (Nov. 22 through Dec. 21, 2021)

10th month of the last Iranian year (Dec. 21, 2020 through Jan. 19, 2021)

Compared to the last month

Compared to the same month in last Iranian year

Buy/sell of apartments

9,816

9,772

3,515

0.5

179.3

The average price of apartments per square meter ($)

7,842

7,759

6,520

1.1

20.3

The following table shows the number of apartments sold in Tehran city for the same month in different years:

Age of building

The 10th month

Percentage change

Share interest

10th month of the current Iranian year (Dec. 22, 2021 through Jan. 20, 2022)

10th month of the last Iranian year (Dec. 21, 2020 through Jan. 19, 2021)

10th month of the preceding Iranian year (Dec. 22, 2019 through Jan. 20, 2020)

10th month of the current Iranian year (Dec. 22, 2021 through Jan. 20, 2022)

10th month of the last Iranian year (Dec. 21, 2020 through Jan. 19, 2021)

10th month of the current Iranian year (Dec. 22, 2021 through Jan. 20, 2022)

10th month of the last Iranian year (Dec. 21, 2020 through Jan. 19, 2021)

Under 5 years

3,301

1,372

4,470

140.6

-69.3

33.6

39.0

6-10 years

2,055

629

2,069

226.7

-69.4

20.9

17.9

11-15 years

1,429

458

1,351

212

-66.1

14.6

13

16-20 years

1,755

614

1,807

185.8

-66

17.9

17.5

Over 20 years

1,276

442

990

188.7

-55.4

13

12.6

Total

9,816

3,515

10,687

179.3

-67.1

100

100

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