Tehran Housing Sector Rally Expected to Cool Off

After a bigger-than-expected rally in home prices in the first quarter of the current fiscal year that started on March 21, housing experts believe the one-off bull run will lose steam as the year moves toward the second half. 
Rejecting claims that the price hike was fueled by the policies of the Ministry of Roads and Urban Development that imposed curbs on the construction of high-rises, Hamed Mazaherian, the deputy housing minister, said the decline in the construction of apartments was due to a drop in demand for building permits.  
Mazaherian traced the surge in house prices to the volatility in “parallel markets” such as gold and currency markets, which caused an investor rush toward the property market, Mehr News Agency reported.