Residential Rents in Iran Urban Areas Rise 23% YOY in Summer

EghtesadOnline: The residential rent index in Iran's urban areas (using the Iranian year to March 2017 as the base year) stood at 151.9 in summer, the second quarter of the current Iranian year (June 22-Sept.22), indicating a 23.1% rise compared with the same quarter of last year.

News ID: ۷۴۸۹۴۳

13 November 2019

According to the Statistical Center of Iran, the year-on-year inflation rate for the preceding quarter, which ended on June 21, was at 25.6%.

The highest and lowest inflation rates, on a year-on-year basis in the second quarter of the current year, were registered for Lorestan with 37.2% and West Azarbaijan with 11%.

The index saw a 6.9% increase compared with the previous quarter, according to Financial Tribune.

Lorestan and East Azarbaijan provinces registered the highest and lowest quarter-on-quarter inflation rates for tenants in urban areas with 23.6% and 2.7% respectively.

The average index in the four-quarter period ending Sept. 22 increased by 24% compared with last year’s corresponding period.

SCI had put the average annual inflation rate for the preceding quarter, which ended on June 21, at 22.6%.

The highest and lowest average annual inflation rates were registered for Tehran and West Azarbaijan with 33.7% and 9.4% respectively.

The general housing index in urban areas was put at 152 in summer, indicating a 6.9% rise compared with the previous quarter and a 23.2% growth over the same quarter of last year.

The average annual index increased by 24.1% in Q2 compared with the similar quarter of last year.

The index for maintenance and repair services of residential units, including plumbing, plastering, home electrification and insulation services, in urban areas stood at 163.2 in the same quarter, indicating a 6.2% rise compared with the previous quarter and a 33.1% growth over the same quarter of last year.

The average annual index for maintenance and repair services increased by 32.6% in Q2 compared with the similar quarter of last year.