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.
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 […]
Exchange rate fluctuations have affected prices of almost everything in Iran. However, the price rise in some goods has been more controversial. This includes rise in prices of potatoes and tomatoes. Taadol newspaper reports that […]