Buying housing with a loan is a priority for first-time buyers – Tejaratnews
According to Tejarat News, in recent weeks, the demand for housing loans has increased up to 480 million tomans through the purchase of housing facility bonds, which has led to a relative growth in its price. Obtaining a loan is mainly done with the intention of buying a small apartment. Applicants for the first home usually buy housing when the real estate market is close to the price floor by getting a loan, the amount of the apartment mortgage and their savings. Currently, the price of each leaf is about 103 thousand tomans.
According to ISNA, at present, relative calm can be seen in the housing market. The monthly price growth rate is zero and transactions have reached their lowest level this year. On the other hand, due to the existing conditions of the society, inflationary expectations in the housing sector have decreased and the ground is ready for the entry of consumer demand.
Real estate brokers announce the stoppage of investment in the northern areas of the capital. The rank of region one of the number of real estate transactions in Tehran city has decreased. In 1397, in the midst of the boom of the housing market, which was accompanied by the growth of capital demand, Region 1 had the fifth place in the number of transactions, which has now reached the eighth place, and on the other hand, Region 10 has been promoted from the fourth place to the second place in 1397. The distinct feature of the apartments in District 10 is their small size and cheap price.
Experience shows that when the housing market is at rest, space is gradually provided for consumer demand to enter. Housing recession usually lasts 10 to 15 seasons. Apart from the months of May and June this year, when the housing market became active due to inflationary expectations due to the reform of the subsidy system, this market has stagnated since last year and in fact six seasons have passed since the stagnation of the property market.
On the other hand, some sellers of large and luxury units have been offering their apartments at a discount in recent months. Meanwhile, according to real estate consultants in Tehran, we are facing some price growth in small apartments. Currently, apartments with a size of less than 80 square meters account for 57% of transactions. 56% of transactions are done at a price lower than the city average (43.7 million Tomans per meter). 50% of purchases and sales are allocated to units with a value of less than 3 billion tomans.
Region 5 in the west, regions 10 and 14 in the south and region 4 in the east of the capital can be considered as the center of buying and selling units suitable for middle and low deciles. Currently, the largest share of transactions belongs to region 5 with 15%. The second place is the 10th region with 9.3%. Region 2, which includes 8.7% of transactions, is in the third place, and Region 4 is in the fourth place with 8.3% of transactions.
Since last year, the housing market has been in a gradual decline and its growth rate has lagged behind general inflation. Currently, point-to-point inflation is 48% and the growth of housing prices in Tehran is 38% compared to last year. In fact, the price of housing remains 10% compared to other goods. The continuation of the current conditions can gradually lead to the entry of consumer demand into the housing market. Of course, most experts believe that the recession will not stop the housing market anytime soon.
One of the negative effects in the housing market is the growth of construction costs, which has increased the price of newly built units. This factor can affect the price of units with a construction age of less than five years. Based on this, it is expected that the boom in buying and selling will start from the old units. Currently, the sales volume of units over 20 years old has increased by 61% compared to last year and by 245% compared to eight years ago.
43.7 million tomans per meter of housing in Tehran
The trend of decreasing the monthly price growth rate in the housing market of Tehran, which started in July this year, continued according to the report of two custodians of statistics. According to the announcement of the central bank, the average price per square meter of a house in Tehran reached 43.7 million tomans per square meter in October, which shows an increase of 1.2% compared to the previous month and 38.2% compared to the previous month. Also, the weighted average price of an apartment in Tehran is 46.4 million and the calculated average is 44.3 million tomans. According to the report of the central bank, the number of transactions in October 1401 was 5.4 thousand, which has decreased by 10.2 and 1 percent compared to the previous month and the same month in the previous year.