Tehran Home Construction Hit Record Low in Fiscal 2020-21

Home construction permits were issued for 53,000 residential units during the last fiscal year (March 2020-21) in Tehran, the lowest on record since the year ending March 2005. 
Since that year, an annual average of 126,000 new homes were constructed in the capital city, according to a report by the Persian economic daily Donya-e-Eqtesad. 
The lowest number of construction permits during the 16-year period was registered in the year ending March 2016 with 65,500 and the highest was posted in the year ending March 2013 with 253,000. 
The impact of this unprecedented recession in real-estate market could pose a threat the market in the current and next fiscal years (March 2021-23) due to the average two-year-long process involved in construction.