TEHRAN- Central Bank of Iran (CBI) has announced that the rental price has increased 39.8 percent in Tehran city during the eighth Iranian calendar month Aban (ended on November 21), as compared to the seventh month, and 45 percent as compared to the same month in the past year.

According to the CBI, the average housing price in Tehran in the eighth month also increased 6.8 percent, as compared to the seventh month.

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

Although, in early May, the chairman of Real Estate Agencies Union said, “This year is the year of lower housing prices; this condition will continue in the country for the next two years, and we will see a continuous decrease in housing prices”.

MA/MA