BAKU, Azerbaijan, September 7. The average price of 1 square meter apartment in Iran's capital Tehran amounted to 885 million rials (about $2,094) in the 5th month of the current Iranian year (from July 22 through August 21, 2024), the statistics of Iran's Central Bank said, Trend reports.
According to the statistics, in the fifth month, the price of a 1 square meter apartment in Tehran increased by 1.2 percent compared to the fourth month (from June 22 through July 21, 2024) and by 16.8 percent compared to the same month last year (from July 23 through August 22, 2023).
The statistics add that in the fourth month of the current Iranian year, the price of a 1 square meter apartment in Tehran was about 875 million rials (about $2,070).
Furthermore, statistics indicate that in the 5th month, the price of 1 square meter of the priciest apartment among 22 districts in Tehran amounted to 1.79 billion rials (about $4,236) in District 1. In comparison, the price of one square meter of the cheapest apartment amounted to 421 million rials (about $997)in District 18.
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Period |
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5th month of the current Iranian year (from July 22 through August 21, 2024) |
4th month of the current Iranian year (from June 22 through July 21, 2024) |
5th month of the last Iranian year (from July 23 through August 22, 2023) |
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Number of apartment sales (pcs.) |
3 665 |
3 559 |
2 904 |
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Average price of 1 square meter of apartment (in dollars) |
$2,094 |
$2,070 |
$1,793 |
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 four years, starting from 2021.