The Iran Project

Tehran home sales decline

Financial Tribune – A total of 1,243 homes were sold in Tehran during the first month of the current fiscal year (March 20-April 19) to register an 87.8% decline compared to the month before.

In the month ending March 19, a total of 10,214 home deals were finalized.

The number of home sales in the capital city plunged by 63.7% compared with last year’s similar month, the Central Bank of Iran reported.

A total of 3,423 home deals were concluded in the month ending April 20, 2019.

The average price of each square meter of a residential unit in Tehran stood at 152.95 million rials ($944) during the month under review, indicating a 2.1% decrease compared with the preceding month. Compared with the same month of last year, average prices surged by 35.7%.

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