300% Home Price Rise in Previous Gov’t

The two-term government of former president, Mahmoud Ahmadinejad, was responsible for a whopping surge in home prices throughout the country, the head of Tehran Association of Builders said.”During 2005-12 [when Ahmadinejad was in office], home prices increased by about 300% with the wrong policies of the previous administration being one of the main reasons,” Hassan Mohtasham also told ILNA.Referring to this rise as “unprecedented” in the history of Iranian economy, the official added that the country’s currency was heavily devalued and led to a rise in the prices of many things, including housing. Mohtasham predicted that the housing sector will enter a boom phase in the second half of the current Iranian year (Sept. 23-March 20, 2018) and prices will increase by up to 15%.