Tehran Real-Estate Market Rallies

New data released by the Central Bank of Iran show Tehran’s real-estate market has rallied in the sixth fiscal month (Aug. 23-Sept. 22), as both the number of sales and prices were on a growth path.
A total of 7,789 homes were sold in Tehran during the month, registering an increase of 41.6% compared with the preceding month, but an 8% decrease compared with the same month of last year.
CBI’s data published on its website also indicate that the average price of each square meter of a residential property in Tehran stood at 317.03 million rials ($1,134.28) during the month under review, showing a surge of 30.5% over last year’s same month, when average prices reached 242.88 million rials ($868.98).