Housing market performance poor

Housing Price Index shows the real estate market has had the worst performance among its rival markets in the Iranian month of Shahrivar (Aug.23-Sep.22), ISNA reported Tuesday.

The latest data shows other markets such as forex rates and gold have witnessed minor fluctuations and in some cases slight price declines.

Tehran Stock Exchange, gold bullion coins and foreign exchange rates have respectively recorded -14.1, -2.7 and 7.7% growth rates year-on-year with the inflation rate hovering close to 11.7% .One-year or longer-term bank deposits, however, have yielded the best returns at 20%.

Checking the pattern of indices specific to the housing sector in comparison with rival markets and Consumer Price Index shows that in the month ending Sep. 22, foreign exchange rates experienced the highest growth and Housing Price Index the lowest rates while the equity market and Iranian gold coins have more or less adjusted with the rate of inflation.

By Financial Tribune