TEHRAN- Average housing price rose 16 percent in the capital Tehran during the last month of the past Iranian calendar year 1400 (ended on March 20), compared to the same month in the preceding year, according to a report by the Central Bank of Iran (CBI).

Based on the CBI data, the average price for one square meter of a residential unit in Tehran stood at 351.2 million rials (about $1,377) during the last month of the past year, up 6.2 from its previous month, and 16 percent from the same month of the preceding year.

As reported, the number of real estate deals stood at 6,800 in the capital city in the last month of the past year, falling 19.9 percent from its previous month, while increasing 29.6 percent, from the same month of the preceding year.

Back in April, 2021, the head of Iran’s Property Advisers Union had said that housing prices in the country should decrease at least 25 percent in order for people to be able to afford to purchase.

Mostafa Gholi Khosravi stressed the need for establishing a market regulation headquarters for the housing sector to monitor the activities of dealers and real estate agencies in order to balance the prices.

Housing prices in Iran have been constantly rising over the past three years due to various internal and external factors.

MA/MA