(Iran Focus) The housing crisis in Iran has manifested as substandard housing and housing poverty in Tehran. Media reports indicate a 17% increase in prices in August, with the average housing price surpassing 880 million rials (approximately $1,466), and an estimated 177-year wait to purchase a home, assuming prices remain stable for the next two centuries.
On September 20, the state-run Tasnim News Agency reported: “While the average annual income for urban households has reached 2.56 billion rials (approximately $4,267), Tehran households can expect to become homeowners after 177 years if they save part of this income.”
Tasnim emphasized that the average housing price in Tehran has reached 885 million rials, and given this price, the wait for a Tehran household to purchase a 100-square-meter unit is about 177 years, assuming housing prices remain unchanged for the next two centuries.
The state-run ISNA news agency also reviewed housing prices in the Iranian capital, noting that District 18, with an average price of 420 million rials (approximately $700) per square meter, is the cheapest area in Tehran’s housing market.
ISNA added that District 1, with an average price of 1.79 billion rials (approximately $2,983) per square meter, is the most expensive area in the capital, with a 33% price increase over the past year.
