Financial Tribune - A total of 3,401 homes were sold in the capital during the seventh month of the current fiscal year, registering a 22% rise compared with the preceding month

The Central Bank of Iran's latest report on property sales in Tehran shows the number of home deals made in the capital city rose in the seventh month of the current Iranian year that ended on Oct. 22 after months of decline.

A total of 3,401 homes were sold in the capital during the seventh month of the current fiscal year, registering a 22% rise compared with the preceding month. They saw a year-on-year decline of 63.7% compared with the 9,357 deals in the corresponding month of last year.

Data published by CBI on its website also indicate that the average price of each square meter of a residential unit in Tehran stood at 127.15 million rials ($1,135) during the month under review, showing a surge of 47.7% over last year�s same month as average prices were registered at 86.1 million rials ($768) then.

Home prices in the capital city increased by 0.4% compared to 126.67 million rials ($1,130) in the sixth month of the current year.