Financial Tribune - The number of home deals in the capital during the seventh month of the current fiscal year saw a year-on-year decline of 32.3%, as home prices rose 83.5% year-on-year

Home prices in Tehran increased, as the number of property deals declined in the seventh month of the current Iranian year (ended Oct. 22).

According to the Central Bank of Iran's latest report, the trend of surging prices coupled with falling property deals in the capital has continued for the fifth month in a row.

CBI believes that this reinforces the possibility of a nationwide housing recession in the foreseeable future since Tehran accounts for two-thirds to half of all property deals in Iran.