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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