19 / May / 2018 04:39

Home Rents to Rise by 15% in Summer

EghtesadOnline: Iranian tenants will experience a housing rent increase of 15% in the summer, which is beyond the current inflation rate of under 10%, according to the deputy head of Tehran Association of Realtors who identified the housing price index as a major reason behind the hike.

News ID: 782625

“We have been witnessing an increase in the housing price index since the previous winter and even if we presume that the rise in home prices during spring was a bubble, the hike in the housing price index of last winter will definitely exert its influence on home rents,” Hesam Oqbaei also told ILNA. The official referred to a lack of balance between supply and demand in the market, such that demand exceeds supply at present, and a decline in bank interest rates as other main reasons behind the higher rents, according to Financial Tribune. 

 

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