Passing the 100-year waiting period for buying a home; becoming homeowners has fallen out of orbit.
In a new report, Etemad newspaper has addressed the issue of housing, stating that workers, employees, retirees, and teachers who receive minimal wages and salaries, along with 12 million Iranian youths on the brink of marriage, are in a situation where the minimum waiting period to buy a home has reached up to 100 years.
On Wednesday, April 3, the state-run Etemad newspaper, has written that the investment slope in the housing sector has been declining since 2021.
The newspaper, referring to a severe decline in housing transactions, has announced that a significant portion of the population is unable to buy homes because with these wages, they have fallen below the poverty line.
The newspaper’s report mentions housing facilities under the title “troublesome loans,” stating that it’s quite strange that one-fourth of housing loans must cover the cost of securities, and the remainder of the loan is subject to a 23% interest rate, and loans that are still unpaid are subject to installments and interest.
Meanwhile, also on April 3, the Donya-e-Eqtesad newspaper, wrote that official data on rent trends indicate a 39.6% nationwide rent increase and a 52% rent increase in Tehran within a year, marking “a new era in the rental market” whose main characteristic is “the possibility of compensating for the landlord’s cost of living increase through rent.”
The newspaper emphasized that the two main reasons for this inflation in rent are the upward change in the general inflation level and the housing inflation in recent years, which have acted as accelerators in the sharp rise in “rental costs.”
Based on this, it has been announced that in the national rental market, general inflation and annual rent inflation have become equal, and in Tehran, annual rent inflation has outpaced general inflation.
These events in the housing market come as Ebrahim Raisi promised to build one million homes per year and curb inflation in this sector, but in the past two and a half years, not only has this promise not been fulfilled, but with the average price of housing in Tehran exceeding 830 million rials (approximately $1,285), people are facing the phenomenon of “housing distress” and “housing poverty.”
Labor experts and activists have also stated that 75% of workers’ wages are allocated to housing, and other needs such as food are excluded from their priorities.
