The Vice President of the Real Estate Union says the housing bubble has burst and units are left unsold by builders.
Davood Beiginzhad, the Vice President of the Real Estate Consultants Union, commented on the official statements about the reduction in housing inflation and the announcement of the average price per square meter being 123 million tomans. He stated that currently, no accurate information about the details of housing contracts exists in either the Katib or Khodnevis systems because real estate consultants cannot register contracts in these two systems due to lack of coordination with the Organization for Registration of Deeds.
Referring to market data and evidence on the state of housing transactions, he said that not only has the housing market bubble burst, but units are also remaining unsold by builders.
So much so that it is no longer profitable for those builders to construct and produce more housing.
Beiginzhad emphasized that many builders, despite having received building permits, are not starting construction because they no longer achieve the desired profit from this market.
He continued, stating that the volume of buying and selling transactions in the first half of this year reached its lowest level, and this level of transaction reduction in the country’s housing market is unprecedented.
