Tehran Property Prices: December 2022

TEHRAN, Iran – Housing prices in Tehran have reached an all-time high, with the average price per square meter reaching 48mn tomans ($1,300), according to the Central Bank of Iran. This marks a 2.9% increase from the previous month and a 47.5% increase from the same period last year.

The Central Bank’s report also shows that the number of housing transactions in December was 10.2 thousand, a 2% increase from the previous month and a 4% increase from the same month last year. The distribution of these transactions indicates that the units up to five years old have the largest share, at 29%.

District 1 had the highest housing prices at 94 million 410 thousand tomans per square meter ($2,900), while district 18 had the lowest at 24 million 490 thousand tomans ($630). The largest share of transactions, at 11.6%, was for units in the price range of 30 to 35 million tomans ($730) per square meter. District 5 had the highest number of transactions, at 15% of the total.

The rental housing rent index in Tehran and all urban areas also saw a growth of 2.5% and 3%, respectively, in December compared to the same month last year. This marks an equivalent growth of 41.3% and 46.4% in Tehran and all urban areas, respectively.

The unprecedented increase in housing prices has made it difficult for many in the country to afford to buy a home.

This article is brought to you by Tehran Bazaar.