Rental property market ignores government intervention

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The Market Regulation Headquarters has set the rent ceiling for the current Iranian year (started March 21) at 25% in Tehran, 20% in cities with more than one million inhabitants and 15% in other Iranian cities on May 19.
Tazirat (a judiciary-affiliated organization dealing with commercial crimes) has been tasked with prosecuting real estate agencies that violate the regulations, the Mehr news agency reported.
However, Saeed Lotfi, member of the Union of Real Estate Agencies, believes that there is no control mechanism for new contracts.
“If the government wants to control the rental market, it must strengthen the infrastructure. Fortunately, we have the necessary infrastructure such as the tracking code system and the Ministry of Industry, Mines and Commerce has access to this database. However, the ministry alone cannot apply the measures; other ministries, such as the Ministry of Economy and the Iranian Real Estate Registration Organization must also connect to our system,” he said.

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