In 15 Years; Wages Increased 20 Times, but Housing Prices Increased 45 Times

An economic website, citing statistics from the Central Bank of Iran, reported that from the fall of 2009 to December 2023, housing prices in Tehran have increased on average by more than 45 times, while wages have only increased by 20 times. The website "Nin Economic" noted that the highest price surge in Tehran's housing market was in areas 2, 5, 9, 1, and 3. This data confirms experts' warnings regarding the imbalance between costs and income, as well as the cultural and social changes occurring in cities. In this context, the newspaper "Donya-e-Eqtesad" reported on October 16, stating that "the very low resilience of tenants against last year's rental amounts has caused a domino effect from upper-class neighborhoods to middle and lower areas this year." The newspaper further reported that middle to upper-class tenants are considering moving to lower areas because they generally cannot afford the rental amounts of 2022 this year. "Donya-e-Eqtesad" emphasized that in middle to upper areas of the capital, "landlords' proposed rents" using the complete deposit formula have sometimes equaled "the average apartment purchase price in 2019." The website "Tejarat News" reported, based on a survey, that the effects of rising housing prices have also become evident in household details. Accordingly, it has been announced that results from a survey by the Iranian Student Polling Center in July 2021 show that 68.1% of citizens nationally are "very" and "somewhat" worried about housing and securing rent in the future. Inflation has been above 40% in recent years, and wage increases have never matched inflation. In the housing and food sectors, inflation has significantly risen, with housing and food prices more than doubling in the past two years. Government economic policies, international sanctions against the Islamic Republic's ambitious activities, and the presence of multiple stakeholders in the economy, including the Revolutionary Guards and institutions under Ali Khamenei, are among the factors contributing to the current state of Iran's economy. Builders: The housing situation is not good. Opposition to "regional wages" left the first meeting of the "Wage Committee" inconclusive. The share of food in expenditure baskets is 65% of workers' wages. There is a deep recession in the housing market; buying and selling has reached its lowest level. The continuation of price increases in Iran; families have spent more than last year. Livelihood problems or professional violations; the rise of hourly house rentals. The closure treatment for controlling housing prices continues; 1,200 real estate units in Mashhad have been closed.