Supply Deficit Blamed for Home Price Hikes in Iran

The dearth of supply is one of the reasons behind skyrocketing home prices in Iran, says Hossein Afshin, an official with Majlis Research Center. 
“The supply of homes has decreased by 50% over the past five years. However, there is no guarantee that the housing affordability problem will be solved, even if the government’s new initiative to help build 400,000 new homes proves to be successful,” he was quoted as saying by ILNA. 
Afshin noted that from the fiscal 2006-7 to 2015-16, as many as 10.5 million homes were built in the country but only 2.5 million of them were handed over to the people.