Tehran House Sales Slump in February
Tehran House Sales Slump in February

Tehran House Sales Slump in February

Tehran House Sales Slump in February

Realtors in Tehran recorded 15,600 residential real-estate deals during the 11th month of the Iranian fiscal year (ended February 18), indicating a 4.5% drop compared with the same period of last year.
The Central Bank of Iran on Sunday published “Monthly Trends in Tehran Housing Market” for period, based on which the average house price in the city of Tehran reached 45 million rials ($1,190) per square meter, marking a 7.6% growth year-on-year.
Home sales dropped by 6.7% compared with the previous month, whereas the average prices experienced a 0.2% growth during the period.
Houses built within the past five years accounted for 53.9% of the total sales during the period, though newly-built housing units experienced a 9% drop in total sales compared with the previous year.
CBI data also indicate higher demand for housing units built 16-20 years ago , with a 17.2% growth in total deals year-on-year.
Housing units smaller than 80 square meters accounted for more than 51% of the total sales.
CBI claims 61.5% of residential units were sold at prices lower than the average of 45 million rials.
The publication also shows that housing units under 3 billion rials ($79,300) had a 49.2% share in the total number of sold houses.

District 5, located in northwest Tehran, solely accounted for 16.2% of total sales during the period. District 4 in northeast and District 2 in northwest followed by accounting for 11.5% and 9.6% of the total deals respectively.
Neighborhoods located in the high-end District 1 remained the most expensive during the one-month period, offering houses at an average price of 101.2 million ($2,670) rials per square meter. Residential units in this area registered a 9.9% growth in the average price, compared with the same period of last year.
Housing units located in District 18 were sold at the lowest prices during the one-month period–an average of 21.3 million rials ($563.5) per square meter.
CBI also reports an 11.2% annual growth in rents across Tehran for the month to February 18. The growth was 9.4% for other urban areas.
According to the report, 149,807 housing units were sold in Tehran during the 11 months to February 18, marking a 6.5% growth compared with the same period of last year. The average price is recorded at 43.6 million rials ($1,153) for the period, up 5.4% year-on-year.

Short URL : https://goo.gl/KDTiBu
  1. https://goo.gl/QOk4nn
  • https://goo.gl/OXS6Vl
  • https://goo.gl/NJBFd5
  • https://goo.gl/aD7XRg
  • https://goo.gl/tLKRbl

You can also read ...

Pretoria Hosts South Africa-Iran Business Forum (Photo: AfricaNewsAgency)
The South Africa-Iran Business Forum was held in Pretoria,...
485,000 New Jobs Averaged Annually Since 2013
An average of 485,000 jobs were created every year during...
Furniture Exports on Decline
Iran exported about $6 million worth of furniture during the...
About 1,837 million shares valued at $86.508 million changed hands at TSE on Oct. 23.
Tehran Stock Exchange’s main index lost 134.00 points or 0.15...
The health deal was signed in Iran’s Embassy in London on Oct. 23.
Iran’s Ministry of Health signed an investment and cooperation...
Renault Launches Used-Car Sales Scheme in Iran
Negin Khodro, the local official importer of Renault cars, has...
The fiscal 2014-15 was the worst year for the construction sector in recent memory, with growth rate reaching its nadir at -17%.
The research arm of the Iranian Parliament has forecast a...
Over 14.88 billion shares valued at $1.11 billion were traded at TSE over the past month.
Tehran Stock Exchange’s main index TEDPIX gained 648 points or...

Add new comment

Read our comment policy before posting your viewpoints

Enter the characters shown in the image.