Domestic Economy

200% Rise in Home Prices Over Five Years

200% Rise in Home Prices Over Five Years
200% Rise in Home Prices Over Five Years

Home prices have registered a 200% growth over the past five years, said Parvaneh Aslani, director general of Housing Economy Office of the Ministry of Roads and Urban Development, adding that such a considerable rise in prices has been registered for other consumer goods and assets as well. 
The reference for measuring home prices is what actually happens in the real-estate market and deals that are being registered in the Tenement Management Information System (the so-called Tracking Code System) operated by the ministry. Extreme values are omitted and the average price is being calculated. 
“So far, only prices of homes in Tehran were regarded as reference for calculating the value of housing deals but in the new reports of the ministry, statistics of home deals in District One and District Three were removed. As a result, home prices decreased by 100 million rials [$385],” Aslani was quoted as saying by IRNA.     


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