Bleak Prospects for Dull Tehran Real Estate Market

The housing market in the capital continues to show signs of inflationary recession, as has been the case in the past months.
Latest data released by the Central Bank of Iran show home prices in Tehran increased while the number of property deals declined in the fourth month of the current Iranian year that ended on July 22. 
According to the report, 4,790 homes were sold in the capital during the fourth month of the current fiscal year, signaling a year-on-year decrease of 64.6% compared with the 13,514 deals in the corresponding month of last year. 
The number of property deals fell by 20% compared with the preceding Iranian month.
The average price of each square meter of a residential unit in Tehran stood at about 133.51 million rials ($1,103) during the month under review, showing a year-on-year surge of 91.5%, as prices averaged at 69.72 million rials ($576) in last year’s corresponding month. 
Home prices in the capital grew by 0.4% compared to about 132.99 million rials ($1,099) in the third month of the current year.