Tehran home sales dip 59% as prices increase 104% YOY

Tehran Times – Home prices in Tehran continued to increase while the number of property deals declined in the third month of the current Iranian year (ended June 21), latest data released by the Central Bank of Iran show.

According to CBI, 5,986 homes were sold in the capital during the period, signaling a year-on-year decrease of 59.8% compared with the 14,886 deals of the corresponding month of last year.

The number of property deals dropped by 50.6% compared with the preceding Iranian month.

The average price of each square meter of a residential unit in Tehran stood at about 132.99 million rials ($1,023) during the month, showing an annual surge of 104.3%, as average prices reached 65.1 million rials ($500) in last year’s same month.