Financial Tribune - In the first quarter of the current Iranian year, municipalities across the country issued 95,697 building permits, which indicate a 16.5% decline quarter-on-quarter, but a 5.5% rise year-on-year.

The Statistical Center of Iran has published its latest figures concerning construction permits, showing that the number of permits issued decreased across the country in the first quarter of the current fiscal year that ended on June 21, 2019, compared with the preceding quarter (Dec. 22, 2018-March 20, 2019).

According to a report published by SCI on its official website, a total of 15,127 permits were issued by Tehran Municipality in Q1, indicating a 20.2% quarter-on-quarter and a 23.1% year-on-year decline.

The average number of residential units per permit in Tehran was 6.9.

A total of 2,204 housing units are expected to be built as a result of permits issued in Q1, registering a 17.5 QOQ and a 27.9% YOY decrease.

In Tehran, the total floor area of units with construction permits in Q1 stood at 2,781,000 square meters, registering a 21.7% QOQ and a 21.4% YOY decline.

The average floor area of units per permit in the capital city was at 1,262 square meters.