TEHRAN- Central Bank of Iran (CBI) has announced that the rental price has increased 40.9 percent in Tehran city during the sixth Iranian calendar month Shahrivar (ended on September 22), as compared to the same month in the past year.

According to the CBI, the average housing price in Tehran in the said month also increased 36.3 percent in comparison to the same month in the previous year, and 1.1 percent as compared to the fifth 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