Housing Market Steady in 2017

Following a 40% rise in residential real-estate deals during the Iranian month of Dey (started December 21, 2016) compared to the previous month and the relevant stability in prices, the housing market is predicted to hold a steady course until June 2017.

“Although Iran is set to organize two important elections, namely for the presidential and city and village councils, in May, there will be no fluctuations in the housing market and the sector is expected to experience a steady trend until June 2017,” the head of Tehran Association of Realtors was quoted as saying by Eghtesad News. “Since the beginning of the current Iranian year (March 20, 2016), home sales have declined by 30-50% in some provinces,” Hesam Oqbaei added. 

The official described the housing market in the capital as “better” and added that during the eight months to Nov. 20, Tehran’s housing market has shown a positive growth, even though it suffered a hiccup between November 21 and December 20. Oqbaei anticipated that in the coming year (starting March 21, 2017), the housing market will enter its boom phase since “we have partially put the recession behind”.