Currency fluctuations and its impact on national housing prices – Tejaratnews
According to Tejarat News, according to the Director General of Roads and Urban Development of Tehran Province, changes and fluctuations in the exchange rate do not affect the cost of building national housing.
Director General of Roads and Urban Development of Tehran Province said: The recent fluctuations in currency prices do not affect the cost of building National Housing Movement units. Because the contract for the projects has already been concluded.
Khalil Mohabbateh said about the possible effect of the increase in the currency price on the price of materials and the construction cost of the National Housing Movement units: Considering that the contracts for the projects under construction by the National Housing Movement in Tehran province have been concluded, the possible increase in costs does not include these contracts and the rates will not change for the time being. has not done.
He added: We are currently working with previous contracts and the projects are active. Only the loan supplement must be paid up to 450 million tomans.
The General Director of Roads and Urban Development of Tehran province also said about the 400% increase in the price of Unolit: We have finished the hardening and installation of Unolit in some projects and we have reached joinery.
According to Mohabbateh Khah, the applicants who brought 40 million tomans have completed their projects and they are starting in some cities of Tehran province.
The impact of currency on the housing market
Statistics and figures show that the exchange rate effect period on parallel markets, including housing, has shortened, and the real estate market is also affected by the growth rate of the dollar price with a small amount of intensity and weakness.
In recent years, the housing market usually reacted to economic developments later than gold and currency, but it has been two or three years that the fluctuations of parallel markets quickly affect property prices.
Since November of last year, the price of each square meter of house in Tehran has grown by 46% and has reached 46.7 million tomans from an average of 32 million tomans per square meter. Point-to-point general inflation has now reached 48.5%, which is almost equal to the growth of housing prices.
On the other hand, the price of the dollar has increased by about 40% over the past year. Last year, the American Azar banknote was in the range of 28 thousand tomans, which is currently worth 36 thousand 200 in the foreign exchange market and approximately 39 thousand 200 tomans in the exchange.
In the short term, studies show that the housing market is influenced by parallel markets. This issue is confirmed by construction industry activists who constantly witness the effect of the currency market on the price of construction inputs.
Comparing the house price with the dollar rate shows that there is a relative alignment between these two indicators. The dollar was in the range of 32 thousand tomans until September, and now it has reached 39.2 thousand tomans, which has recorded an increase of 22.5 percent.
The price per meter of house in Tehran showed an increase of 8% from Shahrivar to November, and within two months, according to the central bank index, it reached 46.7 million Tomans in November from an average of 43.2 million Tomans in September. The report for the month of December has not been announced yet, but the prediction of housing price fluctuation in the said month is not far from the mind. Housing prices in Tehran city grew by 6.8% in just one month ending in November under the influence of dollar price growth and inflationary expectations.
Source:ISNA