Negotiations reduced housing prices
According to Tejarat News, How did receiving positive news from the negotiations affect the housing market?
Quoted from ایسناThe first reaction of the housing market to the positive trend of the nuclear negotiations was in the form of a 0.5% reduction in the average price offered by the owners. Following some sanctions exemptions, the dollar rate rose from about 29,000 tomans to 26,000 tomans, and some cars also saw price drops; However, due to market confusion, some models were accompanied by price increases.
But the latest observation of the housing market shows that in the first half of February 1400, the price of the whole house in real estate ads has decreased by 3.7 percent and the price per square meter has decreased by 0.47 percent.
According to the information obtained from the key system, the average price of each meter of housing in Tehran increased from 34 million and 250 thousand tomans in the second half of January 1400 to 34 million and 89 thousand tomans in the first half of February, which shows a decrease of 0.47%. . This statistic is derived from bid prices by weighting based on definitive trades.
The average bid prices have increased from 51 million and 132 thousand tomans per square meter during the last 15 days of January to 50 million and 714 thousand tomans in the first 15 days of February, 1400, which indicates a decrease of 0.8 percent.
According to the advertisements registered in the mentioned system, the total prices have increased from an average of 3 billion and 438 million Tomans per house to 3 billion and 309 million Tomans, which shows a decrease of 3.7%.
Among the 22 districts of Tehran, the largest drop in bid prices occurred in District 19, which increased from 21.6 million Tomans per square meter to 18.8 million Tomans and decreased by 13%. The average bid prices in Region 2 also decreased by 4.3% and increased from 62.6 million Tomans per meter to 59.9 million Tomans. In region one, the average price of advertisements has increased from 86.6 million Tomans per square meter to 85.8 million Tomans, which shows a decrease of one percent. In region 4, the offered prices have decreased by 3.7% from the average of 53 million tomans per meter to 51.1 million tomans.
Also, the percentage change in the number of ads for the first 15 days of February compared to the last 15 days of January indicates a decrease of 10.3%, which can be a sign of a decrease in the desire to sell. At the same time, ad views increased by 8.3%.
The study of the rental market also shows that the price per square meter of mortgages for residential units in Tehran in the first half of February has increased by 3.2 percent compared to the second half of January. The number of rental ads also decreased by 1.3 percent.
The slight decrease in housing prices in Tehran, while indicating the prevalence of decreasing expectations over increasing expectations in this market, can be a sign of lack of capacity in this market. During the past year, the inflation of the housing market in Tehran has been 20%, while the proposed rates have decreased by about 10%, and since December last year, when the average price of advertisements was 57 million Tomans per square meter, it has now reached about 51 million Tomans. Is. The approach of the offered prices with definite prices indicates the gradual emptying of the housing market bubble.
Price stability in this housing market has been created in a situation where transactions have increased slightly in the last two months. Part of the demand seems to have entered the housing market with the aim of protecting capital against possible future inflation.
Taking into account general inflation in January 1400, which was announced at 42%, a 20% increase in housing prices means a 22% decrease in real housing prices, and in 1401, there is a possibility that this market will be more out of general inflation. With this premise, it is naturally better to enter the housing market at a time when its annual price growth rate is in line with general inflation. Of course, market participants, including Mostafa Gholi Khosravi, president of the Union of Real Estate Advisors, believe that housing is a safe asset that acts as a shield against inflation.
The average house price in Tehran is 32.9 million Tomans
Therefore, according to the Central Bank, in January 1400, the average price of one square meter of housing in Tehran was 32 million and 940 thousand tomans, which compared to the previous month and the same period last year has increased by 1.1 and 20.3 percent, respectively. . The number of transactions in this month was 9816, which shows an increase of 0.5 and 179 percent compared to the previous month and compared to the same month last year, respectively.