Tehran Housing Market Rebounds

Following a very weak performance during the first month of the current Iranian year, Tehran's real-estate market has registered a healthy growth in the number of residential deals during the second month to May 21.
The latest report by the Central Bank of Iran published on its official website, which employs data from the Tenement Management Information System, indicates that the number of home deals in Tehran during the second month of the current year reached 19,100, which signals a respective increase of 278.7% and 16.7% when compared with the previous month and the same month of last year.
As CBI pointed out in its report, the huge 278.7% increase is because traditionally, the first month of the year sees the lowest volume of home deals, as half of it is taken up by Norouz holidays. However, the first fiscal month showcased a performance even weaker than anticipated as only 5,000 residential deals were registered in Iran's capital, lower by 6.3% compared with the first month of the year before.