Statistics Center: The average price per square meter of an apartment in Tehran reached 448 million Rials

According to Fars news agency, quoted from Statistical Center of IranIn July 1401, the monthly inflation of residential apartment prices in Tehran was 8.3%. July monthly inflation has increased by 1.2 percentage points compared to the same information in the previous month (7.1%).

The price index of residential apartments in Tehran city has been calculated using the registered information of the country’s real estate system and by Hedanik method. To calculate the percentage of changes in the price of residential units; The price index shows the price changes better than the average price, because the characteristics and quality of the units sold in different periods cannot be identified in the calculation of the average price.

For example, the number of newly sold units in one period may be much higher than the previous period, in which case the average price of two consecutive periods will not be comparable. The price index calculated by the Hedonic method solves this problem and eliminates the effect of quality changes during different periods, so even though the average price of residential apartments is higher than the price index for the general public, due to the elimination of changes quality in calculating the price index by hedonic method; The price changes in this method are much more accurate than the price changes in the average price method. In this report, along with the price index, the average price of residential apartments in Tehran is also given. It is suggested to use the price index to know the percentage of changes in the price of residential apartments and to use the average price to know the price level.

Price index (April 1400=100)

In July 1401, the price index of residential apartments in Tehran has reached 151.9, which has increased by 8.3% compared to the previous month (140.3).

Monthly inflation increase

Monthly inflation means the percentage change in the current month’s price index compared to the previous month. In July 1401, the monthly inflation of residential apartment prices in Tehran was 8.3%. July monthly inflation has increased by 1.2 percentage points compared to the same information in the previous month (7.1%).

Increase in inflation point by point

Point-to-point inflation means the percentage change of the price index compared to the same month of the previous year. In July 1401, point-to-point inflation of residential apartment prices in Tehran reached 45.2%. This month’s point-to-point inflation has increased by 9.7 percentage points compared to the previous month (35.5%).

Annual inflation increase

The meaning of annual inflation rate is the percentage change of the average numbers of the price index in a year ending with the current month, compared to the index of the same period of the previous year. The annual inflation rate of residential properties in Tehran has reached 27.1 percent in July 1401, which has increased by 0.7 percentage points compared to the same information in the previous month (26.4 percent).

The average price of residential apartments in 22 districts of Tehran

In July 1401, medium weight[١] The price of residential apartments sold in 22 districts of Tehran has reached 448,407 thousand rials. In this month, district 1 with an average price of 845,220 thousand rials has the highest price and district 17 has the lowest price with an average price of 228,903 thousand rials among the 22 districts of Tehran.

[١] The arithmetic average of July 1401 is equal to 428,797 thousand rials.

– Arithmetic average: at the regional level, the arithmetic average of one square meter of residential apartment building is calculated and at the level of the whole city of Tehran, the regional weight has been used (to eliminate the effect of transaction volume).

– Weighted average: at the regional level, the property area has been sold, and at the level of the whole city of Tehran, the regional weight (to eliminate the effect of transaction volume) has been used as a weight.

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