BAKU, Azerbaijan, September 2. The average price of one square meter of an apartment in Tehran, an Iranian capital, amounted to about 875 million rials (about $2,079) in the 4th month of the current Iranian year (from June 21 through July 22, 2024), the statistics of Iran's Central Bank said, Trend reports.
According to the statistics, in the 4th month, the price of one square meter of an apartment in Tehran increased by 1.8 percent compared to the third month (from May 21 through June 20, 2024) and by 14.3 percent compared to the same month last year (from June 22 through July 22, 2023).
Furthermore, the statistics add that in the third month of the current Iranian year, the price of one square meter of apartment in Tehran was 859 million rials (about $2,042).
Statistics indicate that in the 4th month, the price of one square meter of the most expensive apartment among 22 districts of Tehran is about 1.7 billion rials (about $4,031) in District 1, while the price of one square meter of the cheapest apartment is 455 million rials in District 18 (about $1,081).
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Period |
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4th month of the current Iranian year (from June 21 through July 21, 2024) |
3rd month of the current Iranian year (from May 21 through June 20, 2024) |
4th month of the last Iranian year (from June 22 through July 22, 2023) |
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|
Number of apartment sales (pcs.) |
3,559 |
3,872 |
2,800 |
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Average price of 1 square meter of an apartment (in US$) |
$2,079 |
$2,042 |
$1,819 |
To note, Iran has experienced serious price increases in many areas, including the housing sector, in recent years due to severe devaluation. Meanwhile, the country is experiencing a housing shortage, mainly in major cities. The Iranian government announced that four million apartments will be available to the citizens of the country within 4 years, starting in 2021.
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