Title: Tehran’s Housing Market Shows Signs of Stabilization in November 2024
A Market in Equilibrium
TEHRAN – In a recent development highlighting the current state of the capital’s economy, the average price per square meter of residential property in Tehran registered at approximately 123 million tomans as of Sunday, November 9, 2024. This figure indicates a period of relative price stability within the city’s real estate market compared to the previous month, signaling a potentially significant phase for both investors and policymakers.
Shifting Consumer Preferences
Data compiled from major real estate advertising platforms reveals that the highest volume of transactions and listings remains concentrated in the city’s more central, service-oriented districts. These areas, known for their superior access to urban amenities and public transportation, continue to be the primary focus for both buyers and renters, underscoring the enduring value placed on infrastructure and convenience.
A notable trend emerging from the data is the clear market preference for newer constructions. The majority of published listings are for properties with a building age between zero and five years. This shift suggests a growing appetite for modern units and a corresponding decrease in the appeal of older, potentially dilapidated properties, especially as the costs associated with renovation and maintenance continue to rise.
The “Sweet Spot” for the Average Family
Further analysis pinpoints the specific market segment driving demand. A significant 31.3% of all listings were for units with an area of 75 square meters. Market analysts identify this size as the “core demand average,” representing the optimal balance between final price and functionality for the average urban family. Consequently, this segment is experiencing the most substantial liquidity and transaction activity.
A Calm Before New Policies?
In summary, the latest statistics depict a Tehran housing market characterized by continued relative stagnation paired with price steadiness. While transaction volumes have seen a decrease in recent months, prices have remained resilient at elevated levels. The market is now in a state of watchful anticipation, awaiting the clarification and potential impact of new governmental housing policies and financing facilities for both construction and purchase.