BAKU, Azerbaijan, March 27. The average price of a one square meter of apartment in Iran's capital, Tehran, was about 785 million rials (about $18,685) in the 11th month of the last Iranian year (from January 21 through February 19, 2024), the statistics of Iran's Central Bank said, Trend reports.
According to the statistics, in the 11th month of last year, the price of a one square meter of apartments in Tehran increased by 4 percent compared to the 10th month (from December 22, 2023 through January 20, 2024) and 37.3 percent compared to the 10th month, the same month as last year.
The statistics added that the price of a one square meter of apartment in Tehran was about 754 million rials (about $17,950) in the 10th month.
The statistics added that the price of 1 square meter of the most expensive apartment among 22 districts of Tehran in the 11th month was 1.48 billion rials (about $35,252) in Region 1, while the price of 1 square meter of the cheapest apartment in Region 18 was about 406 million rials (about $9,654).
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Period |
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11th month of the last Iranian year (January 21 - February 19, 2024) |
10th month of the last Iranian year (December 22, 2023 - January 20, 2024) |
11th month of the previous Iranian year (January 21 - February 20, 2023) |
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Number of apartment sales (units) |
6 183 |
5 048 |
9 729 |
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Average price of 1 square meter of apartment (in dollars) |
18 685$ |
17 950$ |
13 604$ |
To note, due to the strong devaluation in Iran in recent years, there has been a serious increase in prices in many areas, including the housing sector. At the same time, there is a shortage of housing in the country, mainly in major cities. The Iranian government announced that 4 million apartments will be available to the citizens of the country within 4 years, starting in 2021.
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