The Statistical Center of Iran has published its latest report on the state of home and land prices, in addition to rents, suggesting that all have increased significantly across urban areas in the country during the second quarter of the current fiscal year (June 22-Sept. 22).
Land Prices, Deals
According to the report published on the SCI website, the average price of each square meter of land (vacant) or land of a rundown residential property (old residential units that are only considered useful for reconstruction) in Iran's urban areas went up by 49.2% during Q2 compared with last year's corresponding period. Prices increased by 29% compared with the current fiscal year’s Q1.
The minimum price of each square meter of land, including that of a rundown property stood at 400,000 rials ($3.92) while the maximum was at 314.7 million rials ($3,085), bringing the average to 17.25 million rials ($169.11).
The number of land deals made in summer increased by 41.9% compared with the similar period of last year and by 11.1% when compared with the first quarter of this year.
The average area of each dealt land or land of a rundown property in real estate agencies across urban areas was reported at 307 square meters by SCI.
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