Tehran Home Sales Decline While Prices Surge by 80%

During the last Iranian year that started on March 20, 2020, and ended on March 20, 2021, the number of home deals finalized in Tehran totaled 83,303, which shows a 0.3% decline year-on-year. 
In the same period, the average price of each square meter of a home in the capital stood at 238.65 million rials ($925), signaling a YOY surge of 80.3% compared with the year before, latest real-estate data published by the Central Bank of Iran show. 
A total of 5,273 homes were sold in the capital during the 12th month of the last fiscal year (Feb. 19-March 20), registering a 34.6% increase compared with the preceding month but a 48.4% decline year-on-year.
The average price of each square meter of a residential property in Tehran stood at 302.74 million rials ($1,173) during the month under review, showing an increase of 93.7% over last year’s same month, as average prices were registered at 156.28 million rials ($605) then. Home prices in the capital city increased by 6.6% compared to 283.89 million rials ($1,100) in the 11th month of the last year.