The dollarization of the housing market and its consequences - آرتان پرس | مرجع رسمی اطلاع رسانی فولاد | آرتان پرس | مرجع رسمی اطلاع رسانی فولاد

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The dollarization of the housing market and its consequences

شناسه : 40437 ۲۰ بهمن ۱۳۹۹ - ۱۶:۰۰
Unfortunately, there is no uniform policy for the housing market in the country and the supervisory institutions do not play their role properly. We see that homeowners set rates for their homes without giving expert reasons, and irrational rates can not be prosecuted in any way, and this causes inflammation in the housing market.
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Unfortunately, housing in Iran does not pass through the channel of any regulatory body and is a market that, due to its low availability, remains for a certain group and practically a large number of Iranians are deprived of commercial transactions in the housing market. This safe margin has been created. For the big seeds of the housing market, we have witnessed staggering prices in the worst days of the housing market in Iran and Tehran. Stay tuned to Artan Press.

 

*** The relationship between the price of the dollar and housing

The price of the dollar and housing have a very direct relationship with each other. But we usually see the growth of housing prices in dollar peaks, but in the days when the dollar experiences a free fall, due to the long-term liquidity of housing, prices are happy. We are for the next courier. The peak of the annual inflation rate of the dollar price occurred between March 2017 and July 2017, the highest value of which was 170% in May 2009. During this period, we witnessed the rapid growth of housing rates in the capital.

 

*** Assess the housing market inflation rate

The peak of the annual inflation rate of Tehran housing prices occurred in July and August 2009 at a rate of more than 90%. With the occurrence of the second currency price shock, the second peak of housing prices began in the second half of 1399. The annual inflation rate of Tehran housing prices in January 2016 was 72%, which is 67% higher than the annual inflation rate of the dollar. In the last 3 years, the increase in the price of the dollar has been the driving force behind the increase in housing prices. Housing inflation rate is lower than the dollar, but it has more depth. Annual inflation rate is the percentage change in the average price index numbers in a year leading up to a month, compared to the same period before.

 

*** Compare housing rates to dollar rates

The average price of housing in Tehran, based on $ 24,000, has reached about $ 145 per square meter in January. The average dollar price of housing in the last 2 years has been about $ 160, which is in balance with current prices. A possible fall in the value of the dollar in the coming months could affect housing prices. But the big condition in this regard is the implementation of policies that should be adopted for vacant properties as soon as possible. If we see the supply of musk in the market, the process of price correction will continue more rapidly.

 

*** Housing price growth based on official principles

According to the report of the Statistics Center and the Central Bank, in December, the average house price in Tehran has increased by 3.4 and 2.7, respectively, compared to December. According to the price information of the Central Bank, the average price per square meter of a residential unit in Tehran has reached 4 million and 3 thousand tomans. Also, the price of housing in Tehran has increased 6.6 and 6 times, respectively, from the beginning of 1996 to the end of January this year, according to the Central Bank and the Statistics Center of Iran.

 

*** Consequences of housing rate fluctuations

Price changes have pushed household purchasing power in the housing market to its lowest level in decades, so that buying a home has never been so difficult in the last two years. However, the average dollar price of housing in the city was $ 140 per square meter in January this year, which is roughly the same as the long-term average dollar price ($ 160) over the past 20 years, so it would normally take time to reduce those expectations. Especially since the reductions sometimes have an upward fluctuation due to the upward fluctuation in the dollar exchange rate.

 

*** Dense demand, the housing market challenge

The issue that has challenged the equilibrium of housing prices is the issue of dense demand in the housing debate. As long as there are buyers in the housing market at current space prices who pour water into the mill of brokers and landlords, the market situation is minimal. In sparsely populated but prosperous areas, cities will not get better.

 

*** Lack of integrated policy in the housing market

Unfortunately, there is no uniform policy for the housing market in the country and the supervisory institutions do not play their role properly. We see that homeowners set rates for their homes without giving expert reasons, and irrational rates can not be prosecuted in any way, and this causes inflammation in the housing market.

 

*** The challenge of rising inflation in housing pricing

Firms and producers do not coordinate with the increase or decrease of money supply and do not increase and decrease in proportion to the prices. This is due to the incomplete and delayed information they receive from the general level of prices. This is also true in the area of ​​production factors and hired labor. This issue has caused housing projects to be offered to the final buyer in the end with high inflation and disrupt market conditions.

 

*** Lack of transparency in the housing market

Lack of transparency and monopoly in production, Iran’s economy has suffered from these two phenomena for many years. These two phenomena increase prices and create resistance to reduce them. Unfortunately, the housing market has no way to be transparent and get out of the monopoly of a certain class in society, and the taxes in this sector are not well received.

 

artanpress

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