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Tehran Apartment Prices Rise
Economy, Domestic Economy

Tehran Apartment Prices Rise

The latest statistics released by the CBI indicate that the average price of an apartment in Tehran stood at 40 million rials per square meter (about $1400 based on the official exchange rate) during the 11 months of the past Iranian calendar year (ended march 20), showing a 6 percent increase compared to the similar period of a year before, ISNA reported on Monday.
Also, the number of transactions in the housing sector during the same period reached 158,000, which indicates an increase of 50.5 percent compared with the preceding year.
Moreover, the distribution of the number of transactions to the area of the housing units for January 21-February 19 2015 shows that the majority of the transactions belong to the housing units with an area of 60-70 square meters (16.8 percent of all the transactions), followed by apartments with an area of 50-60 square meters and 70-80 square meters, standing at 15.5 percent and 13.3 percent respectively.
According to the CBI figures, apartments with the price range of $36,000-$46,000 and $46,000-$57,000, each with a 10.5 percent share of all the transactions were the most popular price range among the customers. Also price range of $57,000-$68,000 came second over the 11 months of the past Iranian calendar year.

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