According to the latest statistics released by the central bank’s Office for Economic Policies on the housing market in Tehran, the number of home deals dropped by 25.1% and 16.5% over the month to July 22, compared to the previous month and the same month of last year, respectively. However, the cost of renting an average flat in Tehran and urban areas rose by 11.4% and 13.4%, respectively.

Yet, the renting growth experienced a downward trend in line with falling inflation. The average price of a flat per each square meter in Tehran also declined 3.1% in the month to July 22, compared to the same period of last year. Experts attribute home deals decrease to the current downturn in the economy, expecting house price to remain stable over the upcoming months.

By Financial Tribune