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FinancialNews


  • 29-12-20

    Housing price in Tehran city drops 1.1 percent in ninth month of 2020

    (MENAFN)The Central Bank of Iran (CBI) stated that, housing price in Tehran city has fell 1.1 percent in the ninth Iranian calendar month (November 21-December 20), from its last month.

    The CBI"s report set the average price for one square meter of a residential unit at 269.1 million rials (about USD6, 407) in the capital city in the ninth month of the current year, up 98.9 percent from the number for the last year same period.

    The figure of real estate deals has dropped 42.8 percent in Tehran in the ninth month of the current year in comparison with the eighth month, and 73.2 percent in comparison with the last year same period.

    He further said that "With the dramatic and unprecedented rise in housing prices, the market is expected to enter a recession for at least three to four years in the coming months, but naturally, as the recession intensifies, housing prices will fall by about 10 to 20 percent."

    MENAFN29122020000045011369ID1101354097

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