Should we buy a house or not? – Tejarat News

According to Tejarat News, the main player in the current housing market is recession. Real estate consultants active in the Tehran real estate market say that there are more or less sellers these days, but few buyers want properties in the market.

This lack of demand has gone so far that even some sellers who need their money for a shorter period of time are forced to discount the price of their property. Is now the right time to enter the housing market, both from the consumption side and from the investment side?

Is the market in recession?

Economist Peyman Molavi told Tejarat News: “There is an important discussion about recession; For example, someone who was doing 10 real estate transactions until yesterday, and today these transactions have reached three numbers, says that the market is in recession. The fact is that, unfortunately, the statistics of the central bank’s developments have been censored and are no longer published.”

He continued: “But based on rent data and rent growth, the average housing price in Tehran has reached more than 65 million tomans from 48 million tomans in December 1401. “This amount combined with the real interest rate is extremely negative and I have no idea of ​​the property going into recession unless inflation is controlled or interest rates rise.”

Those who don’t have a house to enter the market?

Molloy explained about the right time to enter the housing market: “My advice to people who don’t have a home is to act as soon as possible and buy wherever they can and ignore the rumors about the price failure; This news is psychological. “Unfortunately, in the real estate market, even when it enters recession, it is not possible to lower the price due to the nature of this market.”

In this regard, he added: “People who have a house and are now thinking of investing, it is recommended to buy property with an income perspective. It means that they should buy a house to have income from rent. Those who have more than one house are also advised to get a house abroad after diversifying their assets.

Housing dollar growth until the end of the year

This economist also said about the growth of the dollar in the housing market: “The dollar growth of the real estate market at the end of 1402 will not be less than the rest of the markets, and its yield is moving like the dollar and gold market.” Therefore, buying a house for those who do not have a house and getting a loan in any way is recommended for them.

Will the market remain stagnant?

Abdullah Meshkani, an economic expert, also told Tejarat News: “The housing market was ahead of the foreign exchange market since the winter of last year, and that’s why it is now in recession.” “This market must now either reach the currency market or remain in recession for 6 months to a year until the prices match and then it can experience its next growth.”

He continued: “Now the market is in recession and usually those who want to buy property in this recession can find properties below the price by searching the market. Because now the person who built a property must sell it with a minimum profit; “Of course, there are some areas where the profit is high, but some areas are selling with minimum profit because the construction costs are gradually increasing.”

Meshkani also said: “Apart from this case, if nothing special happens in the country’s economy, the market will probably be in recession for 6 months to a year.”

In general, experts believe that due to the relative decrease in prices and the desire of property owners to sell residential units, now is a good time to enter the housing market.

On the other hand, the uncertainty in the real estate market outlook makes the current situation where the prices have decreased due to the recession, putting the entry into the market in favorable conditions from the investment point of view.

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