Lingering recession in Tehran housing market

Financial Tribune – The number of home deals in the capital saw a decline of 64.6%, while home prices rose 90.8% year-on-year

Home prices in Tehran continue to increase while the number of property deals decline, the latest report released by the Central Bank of Iran announced after reviewing housing data in the 10th month of the current Iranian year that ended on Jan. 20.

According to a report published by CBI on its website on Jan. 26, 6,721 homes were sold in the capital during the month, signaling a year-on-year decrease of 64.6% compared with 19,004 deals of the corresponding month of last year.

Furthermore, the number of property deals declined by 1.4% compared to the preceding month that ended on Dec. 21.