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Iran Housing Market Bracing for Double-Dip Recession: Aug-Sep 2018 Report

The number of home deals across the country has seen a 20% decline, as data for capital city Tehran, which usually accounts for one-third to half of all home deals across the country, show a steep decrease of 45%
Iran Housing Market Bracing for Double-Dip Recession: Aug-Sep 2018 ReportIran Housing Market Bracing for Double-Dip Recession: Aug-Sep 2018 Report
The main reason behind the downturn is widely considered to be volatility in the foreign currency market, which has been chiefly spurred by the reimposition of US sanctions

New data show property deals in Iran are on a downward trajectory, suggesting that the housing sector may be facing another bout of recession.

Preliminary figures extracted from the state-run Tenement Management Information System operated by the Ministry of Roads and Urban Development show a 20% year-on-year decline in the number of home deals across the country during the sixth month of the current fiscal year (Aug. 23-Sept. 22).

Data for capital city Tehran, which usually accounts for one-third to half of all home deals across the country, show that only 7,538 deals were made during the sixth month, signaling a steep annual decrease of 45%. 

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