Housing prices in Tehran have increased this April despite a stagnation in the housing market, with the average price per square meter of residential property sold in the capital reaching 82 million tomans. According to reports from Iranian media, the Economic Research and Policy Department of the Central Bank announced that the number of residential apartments sold in Tehran reached 1,500 units this April, showing a decrease of 75.6% compared to the previous month and a 14.2% decrease compared to the same month last year. However, the average price per square meter of residential property sold through real estate agencies in Tehran has increased by 0.2% and 22.9% compared to the previous month and the same month last year, respectively. An analysis of the distribution of sold residential units in Tehran indicates that among the 22 municipal districts, the highest average price per square meter belongs to District 1, while the lowest is in District 18. Previously, the newspaper 'Donya-e-Eqtesad' reported that half of the applicants for the 'National Housing' program withdrew due to their inability to afford installment payments. The newspaper noted that since the early 2010s, a significant number of new households have been unable to purchase housing from the market. Additionally, individuals who withdrew from the 'National Housing' program could not even afford the 40 million toman down payment required for this scheme. Last November, Voice of America reported, citing Iranian media, that the increase in the total cost of 'National Housing' from 4 million tomans to 15 million tomans, along with the critical economic situation, has left applicants unable to pay their contributions. Continuing reactions to the housing allowance payments to municipal managers; Zakhani: It was for managers who came from the provinces. The Ministry of Interior's 100 billion toman budget for 'supporting' the 'Arbaeen' pilgrimage; billion-toman costs for advertising purposes. Housing allowances paid to municipal managers; Chamran: 'I am unaware', the Syndicate of Workers of the Bus Company: We are angry.
Central Bank of Iran: Average Housing Price in Tehran Reaches 82 Million Tomans
The average housing price in Tehran has risen to 82 million tomans despite a significant drop in the number of transactions. Many potential buyers are withdrawing from the 'National Housing' program due to financial constraints. This situation highlights the ongoing economic difficulties faced by Iranian households.
👥 Key Players
📰 What Happened
Housing prices in Tehran have risen to an average of 82 million tomans, despite a sharp decline in the number of transactions. Many potential buyers are withdrawing from the National Housing program due to financial difficulties.
- Average price per square meter in Tehran is 82 million tomans.
- Sales of residential apartments decreased by 75.6% compared to the previous month.
💡 Why It Matters
📚 Background
Iran has faced significant economic challenges, including inflation and currency devaluation, which have severely impacted housing affordability.
🏷️ Entities Mentioned
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