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10% Decline in Home Prices Over Three Weeks

10% Decline in Home Prices Over Three Weeks10% Decline in Home Prices Over Three Weeks

Home prices have declined by 10% over the past three weeks, as rising supply has put a downward pressure on prices, Mostafa Qoli-Khosravi, the head of Tehran Realtors Association, said recently. 
“The Iranian month ending Nov. 20 saw 5,072 home deals concluded in Tehran, indicating a 48% decrease compared with the previous month but a 12% growth compared with the same month of last year. The number of rental agreements in Tehran registered at the state-run Tenement Management Information System [operated by the Ministry of Roads and Urban Development] stood at 16,583, registering a 10% decline month-on-month but a 66% increase year-on-year,” he was quoted as saying by IRNA.
Qoli-Khosravi said over 44,339 sale contracts were finalized across the country during the month under review, indicating a 31% decrease month-on-month but a 67% growth year-on-year. 

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