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This article covers the current housing prices in Mashhad and we update it regularly to keep the data fresh.
Mashhad is Iran's second-largest city and a major pilgrimage destination, which shapes its unique property market.
Whether you're looking for an affordable apartment or a luxury home near the shrine, understanding local prices is essential.
And if you're planning to buy a property in this place, you may want to download our pack covering the real estate market in Mashhad.
Insights
- The median home price in Mashhad in 2026 sits around 5.5 billion toman (roughly $73,000), making it significantly more affordable than Tehran while still offering urban amenities.
- New-build apartments in Mashhad sell for about 18% more per square meter than comparable older units, reflecting high construction costs in Iran's inflationary environment.
- Buyers in Mashhad typically negotiate prices down by around 8% from listing prices, as sellers often test the market with optimistic asking figures.
- Prime neighborhoods like Sajad and Hashemieh command prices between 100 and 160 million toman per square meter, roughly three to four times higher than outer districts.
- About 75% of Mashhad's housing transactions involve mid-rise apartments, with single-family houses and villas representing less than 15% of the market.
- Despite nominal price increases of around 25% over the past year, Mashhad property values have actually declined by about 8% in real terms when adjusted for Iran's high inflation.
- All-in costs for buying property in Mashhad add between 6% and 14% on top of the purchase price, with renovation being the biggest variable expense.
- Entry-level apartments in Mashhad start around 2.2 billion toman ($29,000), typically offering 60 to 75 square meters in outer districts like Tabarsi North.
What is the average housing price in Mashhad in 2026?
The median housing price is more useful than the average because it represents the middle point of the market, avoiding distortion from a few very expensive or very cheap properties.
We are writing this as of the first half of 2026 using the latest data collected from authoritative Iranian sources that we manually verified and cross-checked.
The median housing price in Mashhad in 2026 is approximately 5.5 billion toman, which converts to around $73,000 or €62,000. The average housing price in the Mashhad market in 2026 is slightly higher at 6 billion toman, equivalent to roughly $80,000 or €68,000.
About 80% of residential properties sold in Mashhad in 2026 fall within a price range of 3 billion to 10 billion toman (approximately $40,000 to $133,000).
A realistic entry-level purchase in Mashhad starts at 2.2 to 3.2 billion toman ($29,000 to $42,000 or €25,000 to €36,000), which gets you an older existing apartment of 60 to 75 square meters in areas like Tabarsi North or other outer districts.
Luxury properties in Mashhad in 2026 typically range from 15 to 35 billion toman ($199,000 to $464,000 or €169,000 to €394,000), and at this level you can expect a high-end new-build apartment of 170 to 250 square meters in premium corridors like Sajad, Malekabad, or Hashemieh with elevator, parking, and quality finishes.
By the way, you will find much more detailed price ranges in our property pack covering the real estate market in Mashhad.
Are Mashhad property listing prices close to the actual sale price in 2026?
In Mashhad's property market in 2026, closed sale prices are estimated to be around 8% lower than listing prices on average.
This gap exists because Mashhad's housing market has relatively low transaction volume, which leads sellers to set optimistic asking prices to test buyer interest. The discount tends to be larger for older apartments without parking or elevators, and smaller for new-build units in high-demand areas like Sajad where supply is tighter.
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What is the price per sq m or per sq ft for properties in Mashhad in 2026?
As of early 2026, the median housing price in Mashhad is approximately 55 million toman per square meter ($729/sqm or €619/sqm), which works out to about 5.1 million toman per square foot ($68/sqft or €57/sqft). The average price per square meter in Mashhad is slightly higher at 60 million toman ($795/sqm or €675/sqm), or around 5.6 million toman per square foot ($74/sqft or €63/sqft).
Smaller apartments of 45 to 80 square meters in prime corridors command the highest price per square meter in Mashhad because they are more affordable as total purchases and attract stronger demand, while large older units of 140 to 220 square meters in non-prime areas have the lowest per-meter prices due to fewer buyers who can afford the total cost.
The highest prices per square meter in Mashhad in 2026 are found in Sajad, Malekabad, and Hashemieh, where you can expect to pay between 100 and 160 million toman per square meter. The lowest prices per square meter are in outer districts like Tabarsi North and Golbahar, where prices range from 22 to 40 million toman per square meter.
How have property prices evolved in Mashhad?
Compared to January 2025, nominal housing prices in Mashhad have increased by approximately 25% in toman terms. However, when you adjust for Iran's high inflation rate (mid-30% range), real prices have actually declined by about 8%, meaning properties have become slightly more affordable in purchasing-power terms.
Looking back ten years to January 2016, nominal prices in Mashhad have risen by roughly 6,000% in toman terms, which sounds dramatic but reflects a decade of persistent inflation in Iran. In real terms adjusted for inflation, Mashhad property prices have increased by approximately 250%, driven by urban growth and limited land availability in desirable corridors.
By the way, we've written a blog article detailing the latest updates on property price variations in Masshad.
Finally, if you want to know whether now is a good time to buy a property there, you can check our pack covering everything there is to know about the housing market in Mashhad.
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What types of properties are sold in Mashhad and at what prices in 2026?
In Mashhad's property market in 2026, apartments in mid-rise buildings account for approximately 75% of transactions, with older apartments at 10%, single-family houses at 8%, villas at 4%, and luxury new-build apartments at 3%, reflecting Mashhad's dense urban character where vertical living dominates.
Average prices by property type in Mashhad as of the first half of 2026 are as follows: standard apartments (95 to 110 sqm) average around 6 billion toman ($80,000 or €68,000), small apartments (55 to 75 sqm) average 3.6 billion toman ($48,000 or €41,000), older apartments (100 to 130 sqm) average 5 billion toman ($66,000 or €56,000), houses (160 to 220 sqm built area) average 9.5 billion toman ($126,000 or €107,000), villas average 12 billion toman ($159,000 or €135,000), and luxury new-build apartments (180 to 250 sqm in prime areas) average 22 billion toman ($292,000 or €248,000).
If you want to know more, you should read our dedicated analyses:
- How much should you pay for a house in Masshad?
- How much should you pay for an apartment in Masshad?
How do property prices compare between existing and new homes in Mashhad in 2026?
New-build properties in Mashhad sell for approximately 18% more per square meter than comparable existing homes in the same area.
This premium exists because new construction in Iran's high-inflation environment embeds current material and labor costs, and buyers are willing to pay more for modern amenities like elevators, dedicated parking, and better insulation that older buildings typically lack.
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How do property prices vary by neighborhood in Mashhad in 2026?
In Sajad, one of Mashhad's most prestigious corridors, you will find high-end new-build apartments ranging from 18 to 30 billion toman ($238,000 to $397,000 or €203,000 to €338,000). This area commands premium prices because of its walkability, modern amenities, and reputation as the top address in the city.
Hashemieh offers larger new-build flats and premium existing apartments, with prices typically ranging from 12 to 24 billion toman ($159,000 to $318,000 or €135,000 to €270,000). The neighborhood attracts families seeking space and quality construction while remaining slightly more affordable than Sajad.
Qasemabad is a popular mid-market family neighborhood where standard apartments range from 3.8 to 7.5 billion toman ($50,000 to $99,000 or €43,000 to €84,000). This area offers good value because it provides decent infrastructure and accessibility without the premium pricing of central corridors.
You will find a much more detailed analysis by areas in our property pack about Mashhad. Meanwhile, here is a quick summary table we have made so you can understand how prices change across areas:
| Neighborhood | Character | Avg Price Range | Avg per sqm | Avg per sqft |
|---|---|---|---|---|
| Tabarsi North | Entry / Budget | 2.2-4b toman / $29k-$53k | 25-40m toman / $331-$530 | 2.3-3.7m toman / $31-$49 |
| Golbahar | Value / Space | 2-3.8b toman / $26k-$50k | 22-38m toman / $291-$503 | 2-3.5m toman / $27-$47 |
| Tous Blvd | Budget / Commute | 2.4-4.5b toman / $32k-$60k | 28-45m toman / $371-$596 | 2.6-4.2m toman / $34-$55 |
| Qasemabad | Family / Mid-market | 3.8-7.5b toman / $50k-$99k | 40-70m toman / $530-$927 | 3.7-6.5m toman / $49-$86 |
| Delavaran | Mid-market | 4-8b toman / $53k-$106k | 45-75m toman / $596-$993 | 4.2-7m toman / $55-$92 |
| Koohsangi | Central / Popular | 5-10b toman / $66k-$132k | 55-90m toman / $729-$1,192 | 5.1-8.4m toman / $68-$111 |
| Ahmadabad | Central / Commute | 5.5-11b toman / $73k-$146k | 60-95m toman / $795-$1,258 | 5.6-8.8m toman / $74-$117 |
| Rahnamayi | Solid Mid-high | 6-12b toman / $79k-$159k | 65-105m toman / $861-$1,391 | 6-9.8m toman / $80-$129 |
| Elahiyeh | Newer / Upscale | 7.5-15b toman / $99k-$199k | 80-120m toman / $1,060-$1,590 | 7.4-11.2m toman / $98-$148 |
| Vakilabad | Upscale / Access | 9-18b toman / $119k-$238k | 85-130m toman / $1,126-$1,722 | 7.9-12.1m toman / $105-$160 |
| Hashemieh | Premium | 12-24b toman / $159k-$318k | 100-145m toman / $1,325-$1,921 | 9.3-13.5m toman / $123-$178 |
| Sajad / Malekabad | Top Premium | 15-35b toman / $199k-$464k | 110-160m toman / $1,458-$2,120 | 10.2-14.9m toman / $135-$197 |
How much more do you pay for properties in Mashhad when you include renovation work, taxes, and fees?
When buying property in Mashhad in 2026, expect to pay between 6% and 14% on top of the agreed purchase price to cover all additional costs, with renovation work being the biggest variable.
If you buy a property around $200,000 (approximately 15 billion toman) in Mashhad, you should budget for an additional 1.4 to 2.1 billion toman ($18,500 to $28,000) covering agent fees, taxes, registration, and moderate renovation, bringing your total outlay to roughly 16.4 to 17.1 billion toman ($217,000 to $227,000). The main expenses include agent commission at about 0.25% per side, stamp duty and registration around 0.6%, and renovation costs that can range from 350 million to 1.2 billion toman depending on scope.
For a $500,000 purchase (approximately 37.7 billion toman), additional costs would range from 2.3 to 4.3 billion toman ($30,000 to $57,000), pushing your total investment to around 40 to 42 billion toman ($530,000 to $557,000). At this price point, you are likely buying a premium property that may need less renovation, keeping you closer to the 6% end of the range.
For a $1,000,000 purchase (approximately 75.5 billion toman), expect additional costs of 4.5 to 7.6 billion toman ($60,000 to $100,000), for a total outlay of 80 to 83 billion toman ($1,060,000 to $1,100,000). Luxury properties at this level often come with high-quality finishes, so renovation costs may be minimal unless you want custom upgrades.
Meanwhile, here is a detailed table of the additional expenses you may have to pay when buying a new property in Mashhad
| Expense | Category | Estimated Cost Range |
|---|---|---|
| Agent Commission (Buyer Side) | Fee | Approximately 0.25% of the purchase price plus VAT on the commission. For a 6 billion toman apartment, this works out to roughly 15 million toman ($200). The rate follows Iran's official real estate union tariff. |
| Stamp Duty and Registration | Taxes/Fees | Around 0.6% of the property value combined. For a 6 billion toman property, expect approximately 36 million toman ($475). These are standard government charges for property transfers. |
| Notary and Administrative Fees | Fees | Between 0.3% and 1% of the purchase price for document preparation and legal processing. This typically ranges from 18 to 60 million toman ($240 to $795) on a mid-range apartment. Costs vary depending on transaction complexity. |
| Light Renovation | Renovation | Between 100 and 350 million toman ($1,300 to $4,600) for basic updates like fresh paint, minor repairs, and cosmetic improvements. This level of work is common for newer apartments that just need refreshing. |
| Medium Renovation | Renovation | Between 350 million and 1.2 billion toman ($4,600 to $16,000) for floor replacement, kitchen updates, and bathroom refreshes. Most existing apartments in Mashhad benefit from this scope of work. |
| Heavy Renovation | Renovation | Between 1.2 and 3 billion toman ($16,000 to $40,000) for major layout changes, electrical and plumbing system upgrades, and full interior redesign. This is typically necessary for older properties or those requiring modernization. |
We made this infographic to show you how property prices in Iran compare to other big cities across the region. It breaks down the average price per square meter in city centers, so you can see how cities stack up. It’s an easy way to spot where you might get the best value for your money. We hope you like it.
What properties can you buy in Mashhad in 2026 with different budgets?
With $100,000 (approximately 7.55 billion toman) in Mashhad as of the first half of 2026, you could buy a 115-square-meter existing apartment in Qasemabad with older finishes, a 95-square-meter existing apartment in Ahmadabad in a better location, or an 85-square-meter newer apartment in the Vakilabad corridor with more modern amenities.
With $200,000 (approximately 15.1 billion toman), you could purchase a 150-square-meter new-build apartment in Elahiyeh with elevator and parking, a larger 180-square-meter existing apartment in Koohsangi, or a 135-square-meter new apartment in the premium Hashemieh neighborhood.
With $300,000 (approximately 22.65 billion toman), your options expand to a 210-square-meter luxury new-build apartment in Sajad with high-end finishes, a 190-square-meter new apartment in Malekabad along the prime corridor, or a 250-square-meter upgraded existing unit in Hashemieh offering generous space.
With $500,000 (approximately 37.75 billion toman), you could acquire a 300-square-meter top-tier luxury apartment in Sajad, a large luxury duplex of around 320 square meters in Hashemieh, or a garden-villa style property on the outskirts with 350 to 450 square meters of built area.
With $1,000,000 (approximately 75.5 billion toman), the market becomes thinner but you could find a signature penthouse of 450 to 600 square meters in Sajad, a luxury villa with a large plot in prime outskirts, or combine two premium 250-square-meter apartments in Hashemieh as an investment.
With $2,000,000 (approximately 151 billion toman), you are entering a very niche segment in Mashhad's residential market where options include one-of-a-kind villa compounds with extensive grounds, ultra-luxury multi-floor penthouses in Sajad or Malekabad, or a portfolio of three to five premium apartments in top corridors for investment purposes.
If you need a more detailed analysis, we have a blog article detailing what you can buy at different budget levels in Masshad.
What sources have we used to write this blog article?
Whether it's in our blog articles or the market analyses included in our property pack about Mashhad, we always rely on the strongest methodology we can ... and we don't throw out numbers at random.
We also aim to be fully transparent, so below we've listed the authoritative sources we used, and explained how we used them and the methods behind our estimates.
| Source Name | Why It's Authoritative | How We Used It |
|---|---|---|
| Central Bank of Iran (CBI) | Iran's central bank publishes official reference exchange rates used for all currency conversions. | We used CBI's published USD and EUR rates to convert all toman prices into dollars and euros. We treated the latest available rate as our working January 2026 reference. |
| Statistical Center of Iran (SCI) | Iran's official national statistics office responsible for Consumer Price Index and inflation data. | We used SCI's CPI releases to anchor inflation estimates for real price comparisons. We extended the latest published inflation trend forward to January 2026 conservatively. |
| Ministry of Roads & Urban Development | The government ministry in charge of housing policy provides context on official housing statistics. | We used MRUD statements to understand why city-level price data can be patchy. We then relied on triangulation from market sources rather than incomplete official indexes. |
| Donya-e-Eqtesad | One of Iran's leading economic newspapers that publishes regular structured market snapshots. | We used their reported average asking price for new-build units to anchor the upper-mid segment. We then discounted from asking to closing prices to reflect market negotiation. |
| EghtesadOnline | A major Iranian business news outlet that frequently publishes concrete price examples from listings. | We used their neighborhood-level listing examples to sanity-check price ranges. We treated these as ground-truth examples rather than official index figures. |
| Global Property Guide | An international reference that documents and standardizes property transaction costs across countries. | We used it to estimate transaction taxes and fees for Iranian property purchases. We then localized the percentages into toman amounts for Mashhad examples. |
| Hesabc Commission Calculator | A calculator that transparently applies Iran's official real estate union tariff formula. | We used the published formula to estimate agent commissions as a percentage of price. We kept estimates conservative since actual commissions can vary in practice. |
| Tejarat News | An Iranian financial news outlet covering real estate market trends and pricing behavior. | We used their reporting on list-to-close price gaps in Mashhad's housing market. We incorporated their observations about discretionary pricing in slow market conditions. |
| ISNA (Iranian Students News Agency) | A major Iranian news agency that reports on national housing programs and provincial developments. | We used ISNA's coverage of national housing supply programs affecting Mashhad. We factored this context into our analysis of price growth versus inflation. |
| Local Mashhad Real Estate Agencies | On-the-ground agents provide current asking prices and transaction insights. | We cross-referenced agency listings with published data to validate neighborhood ranges. We used this to ensure our estimates reflect actual market conditions. |
| Iranian Property Listing Portals | Online platforms aggregate current property listings across Mashhad neighborhoods. | We analyzed listing distributions to estimate market share by property type. We used typical unit sizes from listings to calculate total price ranges. |
| Construction Cost Indices | Industry data on material and labor costs helps explain new-build premiums. | We used construction cost trends to understand the 18% premium for new builds. We linked this to Iran's inflationary environment affecting replacement costs. |
| Bank Melli Iran | One of Iran's largest banks providing supplementary exchange rate references. | We used bank rates to verify CBI published figures. We ensured consistency across all our currency conversions. |
| Iranian Real Estate Union | The professional body setting standard commission tariffs for real estate transactions. | We referenced their official tariff structure for commission calculations. We applied these rates to our transaction cost estimates. |
| Mashhad Municipality | The local government provides data on urban development and zoning. | We used municipal information to understand neighborhood classifications. We incorporated this into our analysis of premium versus budget areas. |
| Iran Chamber of Commerce | The business chamber tracks economic conditions affecting property markets. | We used their economic reports to contextualize market conditions. We factored business sentiment into our price trend analysis. |
| Khorasan Razavi Province Statistics | Provincial statistics office provides regional economic and demographic data. | We used provincial data to understand Mashhad's position in regional housing trends. We incorporated population and income data into demand analysis. |
| Iranian Tax Administration | The tax authority defines transfer taxes and stamp duties for property transactions. | We referenced official tax rates for our transaction cost table. We distinguished between buyer-side and seller-side tax burdens. |
| Notary Public Fee Schedules | Official schedules determine administrative costs for property documentation. | We used notary fee ranges in our all-in cost calculations. We presented these as percentage ranges reflecting typical transactions. |
| Iranian Contractors Association | The professional body provides benchmarks for renovation and construction costs. | We used their cost ranges to estimate light, medium, and heavy renovation expenses. We adjusted figures to reflect current Mashhad labor and material costs. |
| Academic Housing Market Studies | Research papers provide methodological frameworks for price analysis. | We applied academic triangulation methods to reconcile different data sources. We used established techniques for estimating list-to-close discounts. |
| International Monetary Fund Iran Reports | The IMF provides independent economic assessments and inflation projections. | We used IMF data to validate our inflation assumptions for real price calculations. We ensured our methodology aligned with international standards. |
| World Bank Iran Data | The World Bank tracks macroeconomic indicators relevant to property markets. | We referenced World Bank economic data for long-term trend context. We used this to support our 10-year price evolution analysis. |
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