Sellers are worried about selling their residential units

Sellers are worried about selling their residential units

Field reports also indicate that the amount of contracts concluded this year compared to last year had a very downward trend, so that one of the real estate consultants located in the west of Tehran, in a conversation with the housing reporter, stated that the doubling of the housing price caused a decrease Transactions have been bought and sold, he said: Many sellers are not willing to sell their units in such conditions because they believe that they will not be able to buy a suitable unit for themselves in the near future.

He said: The trend of high prices of residential units has made the builders unwilling to sell and start hoarding their houses so that they may be able to make more profit in the near future.

This real estate consultant also said about the rental market: “Unfortunately, there were a lot of rental contracts every year, especially in the summer season, but unfortunately, the number of rental contracts has decreased drastically this year.”

The survey of the population and housing census in 2015 by the Statistics Center shows that the number of empty residential units in the country is 58.2 million. This is despite the fact that the number of these units in the population and housing census of 2013 was 6.1 million; This means that the number of empty houses in the country has increased by nearly 60% in just a 5-year period. Also, more than 57 percent of uninhabited residential units are distributed in 7 provinces of Tehran, Isfahan, Khorasan-Razavi, Fars, East Azarbaijan, and Alborz and Khuzestan, and the centers of these provinces are at a higher level than other cities in terms of price conditions.

This way of distribution shows that a large number of these units are in a price-wise situation where there is enough incentive to hoard them. There are about 500,000 empty houses in Tehran, and the supply of these units could have a great effect on reducing housing prices and controlling the rental market.

According to the statistics announced by the central bank, the average price of one square meter of housing in Tehran in July 2017 compared to July 2016 has increased by more than 54% to 7 million tomans, which is unprecedented in recent years.

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This post is written by poshtibaniTs