SCI Reviews Urban Real-Estate Market in Q4 of Fiscal 2021-22
EghtesadOnline: According to the Statistical Center of Iran, the average price of each square meter of residential floor area in urban areas rose by 24.8% in Q4 (Dec. 22, 2021-March 20, 2022) on a year-on-year basis.
The Statistical Center of Iran has published a new report on home and land prices, as well as rents in the country’s urban areas during the fourth quarter of the last fiscal year (Dec. 22, 2021-March 20, 2022).
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 Iranian cities went up by 25.4% in Q4 compared with the corresponding period of the year before. Prices increased by 6.8% compared with the preceding third quarter.
The minimum price of each square meter of land or land of a rundown property stood at 1 million rials ($3.16) while the maximum was 2.62 billion rials ($8,283), bringing the average to 116.71 million rials ($368).