Stagflation in Tehran's housing market is on its way out, at least in some parts of the capital city.
Home prices have increased significantly over the past two years. The gap between housing costs, either rents or property value, and households’ purchasing power has widened and this led to an all-time low in the number of home deals.
“However, the breakneck growth in home prices has decelerated since the fourth Iranian month (June 22-July 22, 2019). At present, the housing market is in a state of equilibrium and prices are not that different from what they were then,” Mehdi Soltan-Mohammadi, a housing expert, told Tehran Chamber of Commerce, Industries, Mines and Agriculture in an interview.
The market has been energized over the past several months, thanks to an increase in the number of home deals.
February 22, 2020 19:01
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