14052
Modest Increase Anticipated in Housing Prices
Economy, Domestic Economy

Modest Increase Anticipated in Housing Prices

The increase in housing prices will be less than the inflation rate in the current Iranian calendar year (started March 21), said the head of Tehran’s real estate union, stressing the need to avoid overexcitement due to the ongoing political atmosphere.
Hesam Oghabayi referred to the impact of the recent nuclear breakthrough and said: “Considerable short-term effects on the housing market are out of the question. Changes are expected to be seen by summer.”
The official expressed hope that improvement in the housing market in the new Iranian calendar year will help the market step out of recession, stressing that the inflation rate is unlikely to increase.
Increase in prices will lead to further recession and thus reduction in transactions, said Oghabayi, who also noted that if this increase is to happen as a result of growth in investments in other sectors such as gold and foreign exchange, it will not be until summer.
Meanwhile, a report by the Statistical Center of Iran (SCI) shows a 53.9% decline in the number of residential construction permits issued by Tehran Municipality during the first half of the Iranian calendar year 1393 (March 21-September 22, 2014). The SCI report also indicates a 57.9% decline in construction permits issued across the country during the six-month period, IRNA reported on Monday.

Short URL : http://goo.gl/wduK8b

You can also read ...

VDMA Backs Iran Trade
Germany’s plastics and rubber machinery trade association,...
Musk Bid for Tesla Still Murky
Tesla Inc’s board named a special committee of three directors...
Equity-Based Sukuk Return to Iran Capital Market
The government is set to clear part of its debt to Social...
S. Korea Bans Recalled BMWs Over Fire Fears
The South Korean government has said it will ban about 20,000...
Central Bank of Iran Against Market Intervention
Central Bank of Iran's Governor Abdolnasser Hemmati said the...
New Forex Initiative Unable to Tip Scales
The new forex initiative has only managed to fix major policy...
Tehran Home Rents Up 26.7 Percent in Q1
The average price of renting a residential unit in Tehran...
Over €81m Worth of Airport Equipment Purchased  Post JCPOA
Iran Airports & Air Navigation Company, an arm of the...

Trending

Googleplus