Tehran’s long-stagnant housing market has seen an unexpected revival despite 40 days of US and Israeli bombardment, as Iranians look beyond gold to property as a refuge from inflation.
While official figures are yet to be released, the capital’s real estate agents union estimates house prices and rents have risen by 80 per cent since the war started in late February — a pace that appears to be outstripping inflation.
Agents and buyers say the renewed interest in property — which has seen real-terms declines in recent years — is more a reflection of economic anxiety than confidence, with transaction volumes remaining relatively thin in the 10mn-strong metropolis.
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