Iranian inflation drives real estate interest
Reports reveal that the American-Israeli war against Iran has driven a revival in Tehran's real estate market, with housing and rental prices soaring by up to 80% since late February. At the same time, the annual inflation rate exceeds 84%. This comes amid a roughly 53% decline in the Iranian rial's value over the past year, prompting Iranians to turn to purchasing properties and land as a way to preserve their savings, especially given the weak banking sector and the absence of an advanced mortgage system. The country's real estate market has experienced significant growth, despite transactions mainly relying on cash payments, which are typically concentrated among those with substantial liquidity.
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