Dizziness in the Housing Market, 60,000 Toman Dollar Halts Transactions

The head of the Real Estate Consultants Union has explained the state of the housing market in 1403, stating that with the dollar reaching 60,000 tomans, transactions in the housing market have completely stopped. Kianoush Goudarzi said in an interview with the 'Khabar Online' website on April 6 that until recently, sellers were even willing to sell below the customary price of the area, but since the dollar rose from 50,000 tomans to 60,000 tomans, those same sellers have held back. According to this industry official, the minimum increase in rent this year will also be 25%, and the housing market will face one of its toughest years. Reports indicate that in the new year, housing prices will return to an upward trend, and the rental market will experience one of its most tense years. Unprecedented inflation and the decline in people's financial power have led many households to migrate back between urban areas and even to towns and villages. In the final days of 1402, Iranian media reported a sharp decline in housing transactions and the continuation of the crisis in this sector. In this regard, the newspaper 'Shargh' reported on March 20 that 'the latest field research on the state of housing transactions in the last month of the current year indicates a recession in buying and selling in this market.' The government-affiliated news agency 'Tasnim' also reported on the government's 'ineffective' policies in the housing sector, stating that following the increase in the price of housing loan bonds, with a 960 million toman loan from Bank Maskan, one can purchase only 4 square meters of housing in the first district of Tehran after deducting the cost of buying bonds. According to the latest report from the Iranian government's statistical center, the average price of housing in Tehran in Dey this year has risen to about 80 million and 600 thousand tomans. Housing has become one of the great aspirations and challenges of Iranian society, while Ebrahim Raisi promised during the electoral competition and after entering the presidency to build one million housing units per year, and nearly three years into his administration, there has been no achievement in this regard. In the latest move, the government and Tehran municipality intend to hand over housing construction in Iran to the Chinese. International sanctions and the Islamic Republic's lack of access to foreign currency resources and oil barter with China are among the factors that have opened the door for China into Iran's construction industry. An Associated Press report highlights the collapse of the national currency's value: Iranians' savings are being wasted. Housing consumes half of the expenses of Tehran households. The head of the Parliament's Civil Commission stated that the Chinese will enter the Iranian housing market in Ordibehesht 1403. There is a cardiac arrest in the housing market; buying and selling of housing has stopped.