Tehran Housing Prices Stabilize as Sales Drop

The latest data on Tehran’s housing market released by the Central Bank of Iran show prices are stabilizing as sales decline.
During the 11th fiscal month (Jan. 21-Feb. 19), a total of 8,532 homes were sold in the capital city, registering a decrease of 13.1% compared with the preceding month and a 117.8% jump compared with the same month of last year. 
The CBI data also show that the average price of each square meter of a residential property in Tehran stood at 330.56 million rials ($1,273) during the month under review, showing a surge of 16.4% over last year’s same month, when average prices stood at 283.89 million rials ($1,093). 
Home prices in the capital city increased by 0.4% compared to 329.36 million rials ($1,269) in the 11th month of the current year. 
During the month ending Feb. 19, residential properties up to five years old constituted the biggest proportion of deals at 33.6% (or 2,871 deals), down by 5.8 percentage points compared with the same month of last year.