Tehran home sales cool as prices surge

Financial Tribune – Residential deals in Tehran cooled in mid-summer but prices continued on their rising trajectory, the latest data released by the Central Bank of Iran show.

A report published on CBI’s website on July 26 showed that 13,500 residential deals were made by Tehran’s registered realtors during the fourth month of the current year that ended on July 22, indicating a respective monthly and annual decline of 9.2% and 7% respectively.

However, the average price of each square meter of a residential unit in Iran’s capital reached 69.7 million rials ($1,585) during that month, signaling an increase of 7.1% compared to the month before and a whopping 54.2% surge compared to the same month of the previous year.