Predict future rental rates
Rent increases from 1995 to last year were 3.6 times lower than the growth in housing prices, which could mean higher rents than housing prices in the coming months and years.
According to Tasnim, according to the announcement of the Deputy Minister of Housing and Construction of the Ministry of Roads and Urban Development in 1995, the average price of one square meter of a residential unit in Tehran is 4 million 372 thousand Tomans, in 1996 more than 4 million 816 thousand Tomans, in 1997 equal to 8 million And 241 thousand Tomans, in 1998 it was equal to 13 million and 330 thousand Tomans, in 1999 it was equal to 24 million and 29 thousand Tomans and last year it was 31 million and 296 thousand Tomans.
Housing prices in Tehran increased more than 8 times in 6 years
According to the latest statistics of the Central Bank, the average price per square meter of a residential unit has increased to 36 million and 350 thousand tomans in May this year.
Thus, the price of housing in Tehran has increased 7.1 times from 1995 to last year and 8.3 times from 1995 to May this year.
Also, this report, citing the Central Bank statistics, the average rent per square meter of a residential unit in Tehran in 1995 was equal to 23 thousand and 400 Tomans, in 1996 was equal to 28 thousand and 200 Tomans, in 1997 was more than 36 thousand and 400 Tomans, equivalent to 47 thousand and 500 Tomans in 1998, 62 thousand and 900 Tomans in 1999 and 84 thousand and 800 Tomans last year.
32 years of waiting to become a housewife!
The report also calculates the housing index. This index shows how long it takes people to become homeowners with 30% of their income saved.
This index was recorded in 1995 equal to 13.8, in 1996 equal to 13.1, in 1997 equal to 19, in 1998 equal to 24.6 and in 99 equivalent to 32.2 years.
Thus, taking home, assuming current prices and current household incomes, takes an average of 32 years for each household.
Will rents follow housing prices?
According to Khorasan, both in Tehran and in the country, the growth of rents in the last five years has been much less than the growth of housing prices.
Some believe that because of this, rents will rise more to reach housing prices, and others believe that as housing prices fall, housing prices and rents will gradually increase relatively the same trend.
However, some believe that the future trend of housing prices is effective in determining rents. The future trend of housing prices will also be affected by the trend of inflation and currency prices, and in this way curb the growth trend of currency prices to curb prices. Housing And rent is essential.