BAKU, Azerbaijan, November 28. The average price of 1 square meter of an apartment in Tehran city was around 758 million rials (about $18,040) for the 8th month of the current Iranian year (October 23 through November 21, 2023), Trend reports.
The data from Iran’s Central Bank shows that the price of apartments per square meter fell by 0.4 percent compared to the 7th month of the current Iranian year (September 23 through October 22, 2023).
So, the average price of 1 square meter of an apartment in Tehran city was 761 million rials (about $18,109) in the 7th month.
However, the average price of 1 square meter of an apartment in the 8th month rose by 62.2 percent compared to the same month last Iranian year.
The most expensive price for apartments between the 22 districts of Tehran was registered in the 3rd district over the 8th month. Thus, the price of apartments per square meter in that district amounted to 1.36 billion rials (about $32,319).
Meanwhile, the cheapest apartment prices in the 8th month were registered in the 18th district. So, the price of apartments per square meter in this district was about 350 million rials (about $8,335).
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Period |
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8th month of the current Iranian year (Oct. 23 through Nov. 21, 2023) |
7th month of the current Iranian year (Sept. 23 through Oct. 22, 2023) |
8th month of the current Iranian year (Oct. 23 through Nov. 21, 2022) |
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Buy/sell apartments |
3,593 |
3,133 |
8,005 |
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The average price of apartments per square meter ($) |
18,040 |
18,109 |
11,119 |
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Iran has faced serious price hikes in many areas, including the housing sector, due to the severe devaluations in the country in recent years. There is also a lack of housing in the country, especially in large cities. The Iranian government has declared that it will supply 4 million apartments to its citizens in the country in a span of 4 years, starting in 2021.
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