The average goods and services Consumer Price Index of “housing and utilities (water, electricity, natural gas and other fuels)” in the 12-month period ending Oct. 22, which marks the end of the seventh Iranian month of fiscal 2021-22, increased by 26.8% compared with the corresponding period of the year before, latest data released by the Statistical Center of Iran show.
The CPI of the group stood at 254.6, indicating a 3.6% rise compared with the month before.
The index, which has the biggest impact on total inflation rate among 12 groups of the basket of consumer goods and services purchased by households with a coefficient of 35.5%, registered a year-on-year increase of 25%.
The average annual inflation in Iran has broken a 12-month rising streak in the fiscal month to Oct. 22.
The overall goods and services Consumer Price Index in the 12-month period ending Oct. 22, increased by 45.4% compared with the corresponding period of the year before.
SCI had put the average annual inflation rate for the preceding Iranian month, which ended on Sept. 22, at 45.8%.
The consumer inflation for the month under review (Sept. 23-Oct. 22) registered an increase of 39.2% compared with the similar month of the previous Iranian year. The year-on-year inflation of the month ending Sept. 22 was 43.7%.
The overall CPI (using the Iranian year to March 2017 as the base year) stood at 364.1 for the month to Oct. 22, indicating a 3.7% rise compared with the month before. Month-on-month consumer inflation was 3.9% for the preceding month.
SCI put average inflation for urban and rural areas at 44.7% and 49.6%, respectively.
CPI registered a year-on-year increase of 38.4% for urban areas and 43.9% for rural areas in the month ending Oct. 22.
The overall CPI reached 360.2 for urban households and 386 for rural households, indicating a month-on-month increase of 3.6% and 4.1%, respectively.
The highest and lowest monthly growth in the index among 12 groups of the basket of consumer goods and services purchased by households in the Iranian month ending Oct. 22 was recorded for “education” with 13.5% and “communications” with 1.1%.
The highest year-on-year inflation in the month under review was posted for “food and beverages” with 61.3% while the lowest YOY inflation was registered for “communications” with 1.1%.
The highest and lowest annualized inflation was registered for “food and beverages” with 61.4% and “communications” with 14.7%.
Tehran Housing Inflation at 59.3%
Tehran’s housing Consumer Price Index in the 12-month period ending Oct. 22, increased by 59.3% compared with the corresponding period of last year, an earlier report released by the Statistical Center of Iran shows.
SCI had put the average annual inflation rate for the preceding Iranian month, which ended on Sept. 22, at 67.3%.
The housing inflation for the month under review (Sept. 23-Oct. 22) registered a year-on-year increase of 22.4% compared with the similar month of last year. The year-on-year inflation of the month ending Sept. 22 was 23.8%.
The housing CPI (using the Iranian month to April 19, 2016, as the base) stood at 778.6 for the month to Oct. 22, indicating a 3.5% increase compared with the month before.
During the month ending Sept. 22, the housing CPI stood at 752.6, registering a 1.2% fall compared with the previous month.
CBI Report
New data released by the Central Bank of Iran show sales in Tehran’s real-estate market have declined in the seventh fiscal month (Sept. 23-Oct. 22), as prices remained stable.
A total of 5,471 homes were sold in Tehran during the month, registering a decrease of 29.8% compared with the preceding month and a 36.8% fall compared with the same month of last year.
CBI’s data published on its website also indicate that the average price of each square meter of a residential property in Tehran stood at 316.31 million rials ($1,138) during the month under review, showing a surge of 18.4% over last year’s same month, when average prices reached 267.2 million rials ($962).
Home prices in the capital city declined by 0.2% compared to 317.03 million rials ($1,141) in the sixth month of the current year.
The CBI data also show that during the month ending Oct. 22, newly-built residential properties up to five years old constituted the highest proportion of deals at 33% (or 1,805 deals), down by 36.8 percentage points compared with the same month of last year.
The lost share was added to homes with a lifespan of six to 10 years, 11 to 15 years, 16 to 20 years and above 20 years. They accounted for 21.8%, 13.8%, 18.4% and 13.1% of total deals compared with the same month of last year’s 18.1%, 13%, 19% and 12.8%, respectively.
The distribution of dealt properties shows that among Tehran’s 22 districts, District 5 grabbed the highest share of total deals at 14.5%. It was followed by districts 2 and 10 with a share of 9.9% and 9.2%, respectively.
All-in-all, 10 districts (5, 10, 2, 4, 14, 7, 8, 1, 15 and 11) grabbed the lion's share of the deals at 73.7% with the remaining 12 districts holding a 26.3% share.
Among Tehran's 22 districts, District 1 registered the highest average home price of 696.7 million rials ($2,507) per square meter. District 18 offered the capital city's cheapest homes with an average per-square meter price of 151.4 million rials ($545). The aforesaid numbers show a respective increase of 22.5% and 21.9% YOY.
Residential units with an average price range of 150 million rials ($540) to 200 million rials ($720) per square meter were the most popular in Tehran during the Iranian month under review, as they accounted for 17% of all deals. They were followed by units priced at 200 million rials to 250 million rials ($900) per square meter with a share of 15.9% and homes priced at 250 million rials to 300 million rials ($1,080) per square meter with a share of 12.1%.
From the total number of deals, 60% belonged to homes cheaper than the average per-square meter price of the city (i.e., 316.3 million rials=$1,139).
Residential units with a floor area of 50-60 square meters registered the highest number of sales with a 16% share of total deals.
Units with an area of 60-70 and 70-80 square meters ranked second and third with a respective share of 14.2% and 13.6%. All-in-all, residential properties with an area of less than 80 square meters had a 57.4% share of total deals.
The data indicate that Tehran’s homes worth between 10 billion rials ($35,997) and 15 billion rials ($53,996) were the most popular with a 19.3% share of total deals. These were followed by homes with a price tag of between 5 billion rials ($17,999) and 10 billion rials, as well as those priced at 15 billion rials to 20 billion rials ($71,994) with a respective share of 16.9% and 11.5% of total deals.
Collectively, homes valued under 20 billion rials had a 49.5% share of total home deals in Tehran during the sixth month of the current year.
The central regulator also reported changes in tenancy prices in the capital city and across urban areas.
According to CBI, the price of rented residential units in Tehran and across urban areas increased by 48.4% and 51.3% respectively during the seventh month of the current Iranian year compared with the corresponding month of last year.
