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EghtesadOnline: The average price of each square meter of residential floor area in urban areas grew by 14.5% in Q4 on a year-on-year basis, while prices saw a rise of 9.8% compared to the previous quarter.

The Statistical Center of Iran has published a new report on home and land prices, as well as rent levels in Tehran’s urban areas, during the fourth quarter of last fiscal year (Dec. 22, 2021-March 20). 

According to the report published on SCI’s 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 17.1% in Q4 compared with the corresponding period of the year before. Prices increased by 4.8% against the preceding quarter (Q3).

The minimum price of each square meter of land or land of a rundown property stood at 46.05 million rials ($151) and the maximum was 2.62 billion rials ($8,641), bringing the average to about 521.74 million rials ($1,720).

housing market residential homes