Tehran Construction Permits Decline in Q1

The Statistical Center of Iran has published its latest figures concerning building permits issued in Tehran as well as the country’s urban areas during the first quarter of the current fiscal year (March 20-June 20).
A total of 1,680 permits were issued by Tehran Municipality in Q1, indicating a decline of 30% and 23.8% over the preceding quarter (Dec. 22, 2019-March 19) and the same quarter of last year.
A total of 12,818 homes are expected to be built as a result of the permits issued in Q1, to register a quarter-on-quarter decline of 26.9% and a year-on-year decrease of 15.3%. 
In Tehran, the total floor area of units in buildings with permits in winter stood at 2,281,000 square meters, registering a 26.6% QOQ and an 18% YOY decline. 
The average number of residential units per permit in the capital city was 7.6.