Economy, Domestic Economy

Tehran Rental Prices Rise

Tehran Rental Prices RiseTehran Rental Prices Rise

Average rental prices in Tehran increased by 10% this Iranian year (started March 21) compared to last year, according to the head of Union of Tehran Real Estate Consultants. “Although there have been contracts with more than 10% hike in prices, the housing market simply lacks the capacity for further increase,” Hessam Oqbayi was quoted by ISNA as saying. He pointed to housing prices as the primary determinant of rental prices and said: “It is inapt to compare the rental market with inflation or expect that prices should increase in line with interest rates, because this would cause unconventional leaps in rental prices.”