Latest data released by the Central Bank of Iran confirm that Tehran's housing market has been plunged into a state of stagflation.
The data covering the eight months of the current Iranian year that ended on Nov. 21 show home prices in the capital city increased while the number of property deals declined.
Only 6,855 home deals were concluded in Tehran for the month, signaling a year-on-year decline of 53.6% compared with 14,764 deals in the corresponding month of last year.
The number of property deals declined by 26.7% compared with the preceding month (Sept. 23-Oct. 22).
November 28, 2018 18:48
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Tehran Home Deals Fall 53% as Prices Rise 91% (Nov 2018)
The trend of rising prices in tandem with the falling number of deals in Tehran emerged from the third month of the current year (ended June 21). It has only exacerbated in the following months
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