Housing price changes in Tehran / Which region had the highest price increase?
According to Tejarat News, the Central Bank data show a 33% jump in the number of residential real estate transactions in Tehran during December and recorded a 17-month record of 9,800 residential real estate transactions in Tehran. Also, the engine of housing price increase has not been seriously started yet, and during the previous month, an average growth of 1.8 percent per square meter of residential real estate was recorded in Tehran.
The data extracted from the ads for the sale of apartments on the wall show that over the past month, the average bid price for the sale of each square meter of residential apartment for 2 to 5 years of construction has increased by 2.4 percent.
Data from the central bank also show that over the past month, acceptance of new homes under the age of five has declined again. So that the share of these houses in the total transactions of Tehran has increased from 43% in December 1998 to 33% in December this year.
This information shows that in the last month, the boom in housing transactions was mostly due to the activation of consumer buyers in this market. The traditional behavior of home buyers shows that consumers are more inclined to buy homes that have been built for several years; But investors mostly buy new homes that have more liquidity.
Mansour Gheibi, a housing market expert, in an interview with Tejarat News, announced an increase in transactions last month and explained: More than 50% of transactions in Tehran have been done up to two billion tomans. This shows the purchasing power of most people.
Gheibi reported transactions in districts five, 10 and neighborhoods south of district two of Tehran, explaining that these statistics show that there is demand in the market, but people’s purchasing power has decreased.
He believes that if living conditions improve and people’s purchasing power increases, buyers in the housing market will increase because statistics show that there is demand in the S market.
This housing market expert considers the proximity of Eid and the desire of people to change or buy a house in these days of the end of the year as one of the factors to increase transactions.
Areas with the highest housing price growth
In the one-month period, the average price of 2 to 5-year-old houses advertised on the wall in Region 6 has jumped by 6.2 percent, which is the highest monthly growth in the regions. Interestingly, with the exception of District 6, other areas with high price growth have all had lower-than-average prices throughout the city and are often among the cheapest areas in Tehran.
Read the latest housing market news on the Tejarat News page.