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.
Donya-e-Eghtesad announces the opening of a 7.1 billion dollar credit line in order to finance the electric train line between Tehran and Mashhad. This contract between Sanaat and Madan (Industry and Mining) Bank of Iran […]
Iran newspaper writes that the foreign currency crisis has caused many businesses to halt sales. The trend began with household appliance retailers which presented the excuse that due to limitations in supplying foreign currency, they […]