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Price for apartments in Iran’s Tehran continues to rise

Finance Materials 30 September 2021 13:22 (UTC +04:00)
Price for apartments in Iran’s Tehran continues to rise

BAKU, Azerbaijan, Sept. 30

By Elnur Baghishov – Trend:

The average price of 1 square meter of an apartment in Tehran city was 317 million rials (about $7,550) in the 6th month of the current Iranian year (August 23 through September 22, 2021), Trend reports citing the statistics of the Central Bank of Iran (CBI).

According to the statistics, the price of apartments per square meter increased by 2.4 percent compared to the 5th month of the current Iranian year (July 23 through August 22, 2021), So, the average price of 1 square meter of an apartment in Tehran city was 310 million rials (about $7,370) in the 5th month.

In addition, the average price of 1 square meter of an apartment in the 6th month increased by 30.5 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 6th month. Thus, the price of apartments per square meter in the district amounted to 689 million rials (about $16,400). The cheapest apartment prices in the 6th month were registered in the 18th district," said the report.

"So, the price of apartments per square meter in this district was 150 million rials (about $3,580). The prices in these districts increased by 35.7 percent and 44.3 percent, respectively, compared to the same month of the last Iranian year,” the statistics said.

Period

Percentage change

The 6th month of the current Iranian year (Aug. 23 through Sept. 22, 2021)

The 5th month of the current Iranian year (July 23 through Aug. 22, 2021)

The 6th month of the last Iranian year (Aug. 22 through Sept. 21, 2020)

Compared to the last month

Compared to the same month in last Iranian year

Buy/sell of apartments

7,790

5,550

8,460

41.6

-8.0

The average price of apartments per square meter ($)

7,550

7,370

5,780

3.1

30.5

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

Age of building

The 6th month

Percentage change

Share interest

The 6th month of the current Iranian year (Aug. 23 through Sept. 22, 2021)

The 6th month of the last Iranian year (Aug. 22 through Sept. 21, 2020)

The 6th month of the preceding Iranian year (Aug. 23 through Sept. 22, 2019)

The 6th month of the current Iranian year (Aug. 23 through Sept. 22, 2021)

The 6th month of the last Iranian year (Aug. 22 through Sept. 21, 2020)

The 6th month of the current Iranian year (Aug. 23 through Sept. 22, 2021)

The 6th month of the last Iranian year (Aug. 22 through Sept. 21, 2020)

Under 5 years

2,750

3,210

1,140

-20

183.1

33

38

6-10 years

1,750

1,550

549

13

182.1

22.5

18.3

11-15 years

1,100

1,150

355

-4.9

224.2

14.1

13.6

16-20 years

1,360

1,470

444

-7.4

232

17.5

17.4

Over 20 years

1,000

1,070

303

-6.3

254.1

12.9

12.7

Total

7,790

8,460

2,780

-8

203.7

100

100

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