Construction cost of apartments in Iran grows 100%
Baku, Azerbaijan, Oct. 13
By Elnur Baghishov - Trend:
Prices for the construction of apartments in Iran have grown this year (Iranian year starts March 21), Secretary for Iran’s Mass Construction Center Farshid Poorhajat said in an interview with ILNA.
The construction cost of each square meter was about $357 last year, he said, adding that this year, the construction cost of each square meter isn’t less than about $600.
He noted that the cost of construction materials has increased, companies raised the cost of equipment, and municipal fees increased several times.
While more than 80 percent of building materials are produced in Iran, the cost of materials also increased and there is shortage of some materials in the market, he said.
If a company constructs a building of 100 square meters meeting minimum standards, it should spend about $6,000 for the construction alone, he noted.
Municipal duties have increased tenfold, he said, adding that all these increases in the end influence the homeowner.