Housing prices increased by 3.6% in the first month of the current Iranian calendar year (started March 21) compared with the similar period last year, IRNA quoted deputy minister of road and urban development for housing affairs, Hamed Mazaherian as saying on Saturday. He added that rental prices have also been on the rise, having increased by 10% during the same one-month period. The deputy minister predicted that the domestic housing market will step out of recession as of the second half of this year. According to the latest statistics released by Iran’s Customs Administration, the inflation rate in the housing market during the first month of this year hovered around 16.3%.
