Housing Market Beholden to Parallel Markets

As Iran continues to battle a currency crisis mainly brought about by expectations of worsening international ties because of the reimposition of US sanctions, the country’s housing market has experienced extreme fluctuations, especially in terms of prices, and its future seems completely tied to currency developments in the coming months.
Mohsen Biglari, a member of Majlis Presiding Board, points out that five years of housing stagnancy that moved into recovery mode from about six months ago, coupled with the currency shocks, have severely impacted the market.
“Home prices are experiencing a jump, as purchasing a house has turned into a dream for many households,” he told HIBNA.