Bloomberg | Ladane Nasseri: After a year of trying, Iranian real-estate agent Javad Baratloo had finally found a buyer for a large home and garden in central Tehran. A price was agreed and contracts prepared -- the only thing missing was the seller, who wasn�t answering his phone.

When he did get in touch, it was to raise the price tag to 235 million rials a square meter. The purchaser agreed, but that wasn�t the end of it. �Now he�s asking for 250 million,� said an exasperated Baratloo,�who�s employed by the Khaneh Bartar, or Superior Home, agency. �Until two to three months ago, sellers were chasing buyers. Now it�s the exact opposite.� Six other deals have fallen apart in a similar way this year, he said.

In hard-currency terms, prices aren�t really rising -- it�s just that the Iranian rial has�shed a fifth of its value against the dollar in a year, and Tehranis are looking for ways to protect their savings. It�s all largely a reflection of�accumulating bad news�in Iran, where a season of protests, the threat of further sanctions from the Trump administration and warring domestic political factions are taking their toll on economic sentiment.