TEHRAN- Central Bank of Iran (CBI) has announced that the rental price has increased 48.4 percent in Tehran city during the eleventh Iranian calendar month Bahman (ended on February 19), as compared to the same month in the past year.

The CBI has also announced that the average housing price has increased 0.4 percent in the capital Tehran during the eleventh month, from its previous month, and 16.4 percent from the same month of the past year.

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

And, for the upcoming months, a number of factors are mentioned to affect the housing market in Iran.

One factor is the possibility of reviving a 2015 nuclear deal signed between Iran and world powers.

Some experts believe that if the mentioned deal, known as Joint Comprehensive Plan of Action (JCPOA), is revived, housing price will experience its biggest historical drop.

As Mostafa Gholi Khosravi, the head of Iran’s Property Advisers Union, has recently stated, “The housing market is waiting for the results of the [JCPOA] negotiations, and with the positive shock that the agreements bring to the market, sales will increase in the coming months.”

He believes that the market will stabilize towards the buyer and the price will decrease.

MA/MA