11% of country’s apartments are unoccupied

According to the Ministry of Finance, 11% of the country’s apartments (2.6 million units) are empty out of which 500 thousand are located in Tehran. A decade ago, only 4.2% of residential hoses were empty (630 thousand units). Ghanoon writes, although nine months have passed since the law was passed to create “The National Property Management System”, no landlords have paid taxes for their empty homes and the government is not pursuing the issue seriously. Due to the lack of a tax system, many developers prefer to keep their units empty in the hopes of rising real estate prices.

Related topic: Unoccupied apartments are due taxation