Average Home Price Falls Further
Economy, Business And Markets

Average Home Price Falls Further

The average home price in Tehran continued to fall in the month to Aug. 22, according to data collected by Central Bank of Iran and Tenement Management Information System. Every square meter of housing units in the capital city was traded at 38.5 million rials on average, falling 0.3% compared to a month before and 2.8% year-on-year. The data took into account only the deals done though real-estate agencies. Some deals may be conducted through notary offices in Iran if the buyer and the seller are family members. The number of deals, however, increased in the month to 13,100, up by 11.6% compared to a month before and 3.2% y-o-y, the data show. The real-estate market has been in recession for two years. Housing experts believe prices have already reached lowest levels, with some predicting a steady rise in prices in the course of the next year.


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