The general price index of construction materials for residential units in Tehran jumped by an annual rate of close to 50% during the second quarter of the current fiscal year that ended on Sept. 22, contributing to rising housing costs in the capital city.
According to the latest report of the Statistical Center of Iran published on its official website, the general price index of residential construction materials reached 315.4 during the second quarter of the current year.
That figure indicated an increase of 25.7% when compared with the first quarter of the current year (ended June 21) when the index stood at 250.8 and rose by 49.1% compared with the second quarter of the previous year when the index registered 211.6.
October 31, 2018 20:19
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Tehran Residential Construction Material Costs Rise 50 Percent - Report
Rising construction costs, coupled with a dwindling purchasing power of the general public, have meant that the housing sector is once more facing a nationwide recession after enjoying about three quarters of boom.
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