Tehran Construction Permits Nearly Halved in 1st Quarter

The Statistical Center of Iran has published a report on the number of construction permits issued in Tehran and throughout the country during the first quarter of the current fiscal year that ended on June 21.
A total of 736 permits were issued by Tehran Municipality in Q1, indicating a 50.6% decrease compared with the previous quarter and a 47.2% decline compared with the same quarter of the year before.
A total of 5,954 homes are expected to be built as a result of the permits that indicate a 48.4% decrease quarter-on-quarter and a 47.2% decline year-on-year. The average number of residential units per permit in the capital city was 8.1. 
In Tehran, the total floor area of units in buildings with permits issued in Q1 stood at 1,127,000 square meters, registering a 49.6% decline QOQ and a 45.9% decline YOY.