High prices in Iran’s stunted housing market leave tenants with few options

Tehran, Iran – When Mohammad, a 29-year-old resident of western Tehran, renewed his tenancy contract earlier this week, the price increase did not come as a surprise. His landlord had raised the rent for the 20-year-old apartment to 230 million rials ($130), up from 130 million rials ($73), while keeping the fast-depreciating deposit at 5 billion rials ($2,800 at the current exchange rate). Recommended Stories list of 3 items end of list Monthly minimum wage in Iran is currently about $90, which can go to $120 after accounting for government-issued subsidies, electronic coupons and marriage or housing-related allowances. Most tenants are believed to be surviving under the poverty line, which is about 700 million rials ($400) in monthly income per average family. “I think the landlord was happy to extend for another year because of the market conditions, and I wanted to stay because the price increase could be worse,” Mohammad, who works as a driver for a ride-hailing app, told Al Jazeera. Moreover, he said, his neighbourhood was not directly targeted in the air attacks that the United States and Israel launched in late February, before strikes were suspended more than a month ago under a tenuous ceasefire. He added that more affordable alternatives to the 60-square-metre (645-square-foot) apartment would be smaller and older, or located in southern Tehran, which would mean having to commute an extra hour daily to go to work. …