Property & Real State

Iran is not the closed society some would believe. It is working through major changes, and is not inhospitable to foreigners.

Foreigners may own or lease property if the property is for commercial or industrial use, or for a personal residence. In the latter case, the foreigner must normally be resident in Iran. Foreigners may not own agricultural lands.

The average cost of residential property per square meter in Tehran is about 20 million rials ($1,600) and about 120,000 transactions on average are made every year, according to the Donya-e-Eqtesad newspaper, citing official data. In affluent northern Tehran where prices can rise to about 150 million rials per square meter.

 

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