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Tehran Housing Market in CBI’s Monthly Assessment

The number of home sales declined by 48.4% on a month-on-month basis but surged 9.9% year-on-year. This is while average prices rose by 1.8% MOM and 118.2% YOY
Tehran Housing Market in CBI’s Monthly Assessment Tehran Housing Market in CBI’s Monthly Assessment

A total of 4,466 homes were sold in the capital during the eighth fiscal month (Oct. 22-Nov. 20), registering a 48.4% decline compared with the preceding month but a 9.9% growth compared with the same month of last year.
Data published by the Central Bank of Iran on its website also indicate that the average price of each square meter of a residential property in Tehran stood at 271.93 million rials ($1,083) during the month under review, showing a surge of 118.2% over last year’s same month, as prices averaged 124.63 million rials ($496) then. 
Home prices in the capital city increased by 1.8% compared to 267.2 million rials ($1,064) in the seventh month of the current year. 
The CBI data also show that during the month ending Nov. 20, newly-built residential properties up to five years old constituted the highest proportion of deals at 38.9% (or 1,736 deals), down by 3.1 percentage points compared with the same month of last year. 

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