The stagnation of the housing market became widespread / there are neither sellers nor buyers – Tejaratnews
According to Tejarat News, Saeed Lotfi, the secretary of the Tehran Real Estate Consultants Union, said about the widespread recession in the housing sector and the drop in prices due to the recession: The drop in prices caused by the recession has also spread to the housing market in Tehran. Of course, it should be noted that before this recession, the prices in the housing market had increased significantly, and in the months leading up to the end of last year, the prices in this market grew by leaps and bounds along with the increase in the exchange rate, but with this recession, a price bubble of This market was evacuated.
Stating that the recession of the housing market is not a good trend, he continued: 200 jobs are directly and indirectly related to the housing sector, and the housing recession means a decrease in employment in related fields in housing and construction.
Absence of buyers and sellers during the housing market recession
The secretary of the Real Estate Consultants Association of Tehran Province emphasized that the real estate market has no sellers and said: Although the recession has led to a decrease in prices, we don’t have real sellers at the end of the transaction, and some owners are resisting the decrease in housing prices. On the other hand, people’s purchasing power has also decreased drastically and they are not able to buy even when the price is reduced.
Lotfi added: The only sellers are the immediate sellers who come to the deal because they need money and usually sell the same unit below the price.
Stating that the number of transactions has decreased drastically, he said: the current recession is not an inflationary recession and this recession has led to a decrease in prices, although real estate transactions in Tehran are limited, and among the regions, only Region 5 is considered one of the most traded regions. Most of the units are related to small-sized transactions.
Referring to the demand in the housing market of the suburbs of Tehran, the secretary of the Real Estate Consultants Association of Tehran said: Compared to the situation of the housing market in Tehran, there are more transactions in the housing market of the suburbs of Tehran, but the situation is not booming. It can be said that the housing market has entered a period of prosperity when first-time buyers start buying housing, and when the demand for first-time houses increases in the market, it can be said that we have entered a period of prosperity.
Source: Ilana