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Price of apartments in Iran’s Tehran rising

Finance Materials 29 November 2021 14:52 (UTC +04:00)

BAKU, Azerbaijan, Nov. 29

By Elnur Baghishov – Trend:

The average price of 1 square meter of an apartment in Tehran city was 320 million rials (about $7,620) in the 8th month of the current Iranian year (October 23 through November 21, 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 1.2 percent compared to the 7th month of the current Iranian year (September 23 through October 22, 2021). So, the average price of 1 square meter of an apartment in Tehran city was 316 million rials (about $7,530) in the 7th month.

In addition, the average price of 1 square meter of an apartment in the 8th month increased by 17.7 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 8th month. Thus, the price of apartments per square meter in the district amounted to 728 million rials (about $17,300). Meanwhile, the cheapest apartment prices in the 8th month were registered in the 18th district," said the report.

"So, the price of apartments per square meter in this district was 145 million rials (about $3,450). The prices in these districts increased by 32.2 percent and 22.6 percent, respectively, compared to the same month of the last Iranian year,” the statistics said.

Period

Percentage change

The 8th month of the current Iranian year (Oct. 23 through Nov. 21, 2021)

The 7th month of the current Iranian year (Sept. 23 through Oct. 22, 2021)

The 8th month of the last Iranian year (Oct. 22 through Nov. 20, 2020)

Compared to the last month

Compared to the same month in last Iranian year

Buy/sell of apartments

7,304

5,471

4,466

33.5

63.5

The average price of apartments per square meter ($)

7,620

7,550

6,470

1.2

17.7

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

Age of building

The 8th month

Percentage change

Share interest

The 8th month of the current Iranian year (Oct. 23 through Nov. 21, 2021)

The 8th month of the last Iranian year (Oct. 22 through Nov. 20, 2020)

The 8th month of the preceding Iranian year (Oct. 23 through Nov. 21, 2019)

The 8th month of the current Iranian year (Oct. 23 through Nov. 21, 2021)

The 8th month of the last Iranian year (Oct. 22 through Nov. 20, 2020)

The 8th month of the current Iranian year (Oct. 23 through Nov. 21, 2021)

The 8th month of the last Iranian year (Oct. 22 through Nov. 20, 2020)

Under 5 years

2,330

1,730

1,700

34.5

1.7

32

38.9

6-10 years

1,670

782

769

113.3

1.7

22.8

17.5

11-15 years

1,030

542

550

91.3

-1.5

14.2

12.1

16-20 years

1,330

790

666

68.9

18.6

18.3

17.7

Over 20 years

930

616

372

51

65.6

12.7

13.8

Total

7,304

4,466

4,064

63.5

9.9

100

100

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