Mostafa Qoli Khosravi also urged policymakers that in order to prevent a sharp rise in prices in the housing sector, they should maintain “an appropriate supply of homes or otherwise home prices will soar”, Fars News Agency reported. According to the Statistical Center of Iran, the average price of 1 square meter of land or residential unit stood at 52.38 million rials ($1,090) in the third quarter of the current year, indicating a 1.4% rise compared with the second quarter and a 17.8% surge compared with the third quarter of last year, according to Financial Tribune.