Financial Tribune – Lands, home and rent prices rose by 43.1%, 43.7% and 47.9% on a year-on-year basis, as the number of land and rent deals decreased by 10.3% and 48.7% respectively while home deals increased by 12.8%
The Statistical Center of Iran has published its latest report on home and land prices as well as rents in the capital city Tehran during the fourth quarter of the last Iranian year (Dec. 22, 2019-March 19), the winter season of fiscal 2019-20.
According to the report published on the SCI website, the average price of each square meter of land or land of a rundown residential property (residential units that are considered old to a degree that only the underlying land is useful for construction) in Tehran went up by 43.1% during Q4 compared with the corresponding period of the year before. Prices increased by 11.1% compared with the preceding quarter (Q3 of the last Iranian year.)
The minimum price of each square meter of land or land of a rundown property in the capital city stood at 26.48 million rials ($150) while the maximum was at 750 million rials ($4,249), bringing the average to 208.15 million rials ($1,179).