Baku, Azerbaijan, May 4
By Farhad Daneshvar – Trend:
While housing prices in Iran over the last fiscal year (ended March 20) increased by 5 percent compared to preceding year, rentals have been skyrocketing.
Ali Chegini, head of the planning and economy office at the Ministry of Roads and Urban Development, has said that housing rent prices have also surged by 50 percent over the last four years, Ibena (Iranian banks and economy news agency) reported.
The official added that there are about 2.6 million empty housing units in the country.
The latest statistics by the Central Bank of Iran indicates an 8.5 percent decline in real estate deals over the first month of the current fiscal year (March-April) in the capital Tehran.
Per square meter of a housing unit in Tehran over the one-month period valued at about $1,300 (43.7 million rials), to record a 4.3 percent growth compared to the previous month.