Urban Residential Rent Inflation Above 50%: CBI

The average residential rent across Iran’s urban areas increased by 50.6% in the fifth month of the current fiscal year (July 23-Aug. 22) compared with the corresponding period of last year.
The inflation rate for the capital city Tehran stood at 45.2%, new data released by the Central Bank of Iran show.
On June 18, the Supreme Council of Economic Coordination, chaired by the heads of three branches of government, decided to impose a ceiling on growth in housing rent levels — 25% in Tehran, 20% in cities with a population of over one million and 15% in other Iranian cities. It also called for the automatic renewal of lease agreements for a year.