Tehran Housing Market Enters Recovery Mode

The housing market in Tehran is on track to recovery after a seasonal slump at the beginning of the year (started March 21) due to the long Iranian New Year holiday, latest data published by the Central Bank of Iran show.
A total of 5,500 homes were sold in Tehran during the fifth month of the current fiscal year (June 22-Aug. 22), registering an increase of 8.4% compared with the preceding month but a 39.4% decrease compared with the same month of last year.
This is the fourth consecutive month of rising sales.
The CBI data also indicate that the average price of each square meter of a residential property in Tehran stood at 309.7 million rials ($1,100) during the month under review, showing a surge of 34% over last year’s same month as average prices were registered at 231.07 million rials ($820) then. Home prices in the capital city grew by 3.1% compared to 300.45 million rials ($1,067) in the fourth month of the current year...