Tehran Housing Sales Slump to 6-Year Low

The number of housing sales in the capital city, Tehran, during the month ending Aug. 22 slumped 74.3% compared with the same period of last year to a six-year low of 3,368, the news outlet of the Ministry of Roads and Urban Development reported. 
A total of 13,120 home deals had been signed in the fiscal month of July 23-Aug. 22.   
Latest figures released by the Planning and Housing Economy Office of the Ministry of Roads and Urban Development also show the average price of each square meter of a residential unit in Tehran stood at about 131.87 million rials ($1,177) during the fifth Iranian month (July 23-Aug. 22), showing a 77.5% increase compared with the same month of previous year. 
Each square meter of homes in the capital city were sold at an average of 74.3 million rials ($663) in the fiscal month of July 23 to Aug. 22, 2018.