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.
Shortage in diapers was the hottest topic of the week. Several families rushed to supermarkets to buy their need for the next months, fearing that the diapers manufacturers will soon run out of production. There […]
The economy of Iran was witness to a number of events this week. The new Governor of the Central Bank, Nasser Hemati began work this week and Valiollah Seif handed over the position. Mr. Seif […]
Members of the Electricity Syndicate have warned the Ministry of Power that recent currency fluctuations will lead to 100 power plant projects shutting down which can lead to outages. Shargh writes, an industry which used […]