Financial Tribune - Many of the people seeking to buy a home but can’t afford it in Tehran opt for one in surrounding cities.

However, the price hikes of the past two years and the rise in demand for housing in other cities have narrowed the price gap of homes in Tehran and other large cities, according to a report by Persian newspaper Iran.

The latest official statistics on the average price of each square meter of residential floor area in the country pertain to the third quarter of the last fiscal year (Sept. 23-Dec. 21, 2019) published by the Statistical Center of Iran.

It put the average value of each square meter of residential floor area with a lifespan of 11 years at 41 million rials ($229).