Economy, Business And Markets
0

Iran Provincial Home Sales Buck the Trend

Provincial Home Sales Buck the Trend Provincial Home Sales Buck the Trend

While Tehran’s housing market has registered three months of consecutive declines in home sales and price surges, similar markets of other provinces exhibit a different trend. 
Tehran’s housing market is on the verge of sliding back into recession after experiencing a boom phase that only lasted for nine months. Things are bad in other provinces as well, but to a much lesser degree, reports the website of Eghtesad News citing data from Donya-e-Eqtesad’s Persian newspaper.
Reviewing the volume of housing deals in cities other than Tehran and a few other major cities, especially towns with populations of under 200,000 people, shows that not only did they not experience a severe decline in the number of home deals during the past few months, they actually saw an uptick. 
While Tehran’s home deals usually constituted more than half of all home deals across Iran, the city registered less than 12,000 deals during the fourth and fifth months of the current year with the total volume of deals in Iran exceeding 25,000 in this period. Monthly changes in the volume of home deals in other cities showed average upticks of 1% in those two months while Tehran’s deals declined by 10% and 5% on an annual basis.

Premium

Subscribe to the Financial Tribune to continue reading this article or Log in to your account if you are already a subscriber.

Find out more about our subsciption plans here.

Add new comment

Financialtribune.com