Economy, Business And Markets

CBI Report on Tehran Housing Market

CBI Report on Tehran Housing MarketCBI Report on Tehran Housing Market

The Central Bank of Iran (CBI) published a report on the latest developments of the housing market in the capital Tehran in the first Iranian month of Farvardin (ended April 20). According to the report, the average housing price was 37.4 million rials (more than $1,100 based on market rates) per square meter, up 3.9% compared to the similar period a year earlier. The highest average house price was registered in district 1 of Tehran at 76.6 million rials (about $2,320) per square meter while the lowest was recorded in district 18 at 20.7 million rials (about $627).  The report also shows that 4,915 transactions were registered during the one-month period, indicating a 31.9% decline compared to last year.  Apartments of 60-70 square meters accounted for the biggest share of the transactions followed by apartments of 50-60 square meters. The housing rent index in urban areas grew by 14.5%.