The price of housing in Tehran has grown by 30% compared with last year, and the western part of Tehran, especially small apartments have seen the largest growth. Shahrvand writes that the price of construction material has seen a similar growth which has increased construction costs. Estimates show that last year the cost of construction was on average 12 million IRRs. This year, the cost has risen to 16 to 17 million IRRs (381 USD). The reduction of banking profits is among the reasons pushing investors towards the real estate market. Shahrvand writes that 80% of wealth in Iran is dedicated to housing and commercial real estate.
The Iranian President’s visit to India was among the most important events of the week. India reversed a law which had previously only benefited investors in Bhutan and Nepal, allowing Indian investors to use rupees […]
New regulations are set for foreign currency investment at Iranian banks. Foreign currency depositors will receive their deposit and interest as foreign currency, Ebtekar quotes the Central Bank of Iran. Depositors can also invest sums […]
Football League to pay $53m tax The Iranian Football League Organization released a statement announcing its bank accounts have been frozen due to tax debt. Based on the report from the Tax Organization, The Iranian […]