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Average Monthly Home Prices in Tehran Buck Rising Trend

The average price of each square meter of a residential unit in Tehran stood at $1,157 in the fifth month of the current Iranian year that ended on Aug. 22, indicating a 2.4% decline compared to $1,186 in the previous month
Average Monthly Home Prices in Tehran Buck Rising TrendAverage Monthly Home Prices in Tehran Buck Rising Trend

For the first time in months, home prices in Tehran have declined.
A new report released by the Central Bank of Iran shows the average price of each square meter of a residential unit in Tehran stood at 130.25 million rials ($1,157) in the fifth month of the current Iranian year (ended Aug. 22), indicating a 2.4% decline compared to 133.51 million rials ($1,186) in the fourth month of the year. 
Prices, however, showed an annual surge of 76%, as average prices were registered at 73.99 million rials ($657) in last year’s same month.
A total of 3,292 homes were sold in the capital during the fifth month of the year, signaling a year-on-year decline of 72.6% compared with the 12,006 deals in the corresponding month of last year. The number of property deals fell by 31.3% compared with the preceding month. 

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