Tehran’s Housing Market Pulling Out of Slump

The Central Bank of Iran’s latest data on Tehran’s housing market show sales are picking up after a slump. 
During the eighth fiscal month (Oct. 23-Nov. 21), a total of 7,304 homes were sold in Tehran, registering an increase of 33.5% compared with the preceding month and a 63.5% jump compared with the same month of last year.
Published on CBI’s website, the data also indicate that the average price of each square meter of a residential property in Tehran stood at 316.31 million rials ($1,090) during the month under review, showing a surge of 17.7% over last year’s same month, when average prices stood at 271.93 million rials ($937).