Tehran home sales slump to decade low in one month

Financial Tribune – The number of home sales in Tehran slumped to a decade-low of 2,855 deals during the month ending Sept. 22, indicating declines of 72.9% and 15.2% compared with the same period of last year and the month before (July 23-Aug. 22) respectively.

A total of 10,537 home deals were signed during Aug. 23-Sept. 22, 2018, and a total of 3,368 deals were concluded between July 23 and Aug. 22, 2019, Mehr News Agency reported citing latest figure by the Planning and Housing Economy Office of the Ministry of Roads and Urban Development.

The average price of each square meter of a residential unit in Tehran stood at about 129.69 million rials ($1,142) last month, showing a 37.3% increase year-on-year. Each square meter of home in Tehran was sold at an average of 81.22 million rials ($715) in the fiscal month ending Sept. 22, 2018.