Tehran Housing Market’s Monthly Review

EghtesadOnline: The number of home sales in Tehran reached 9,664 during the month ending Dec. 21, indicating an increase of 137% compared with the month before, the Planning and Housing Economy Office of the Ministry of Roads and Urban Development reported.

News ID: ۷۴۹۲۹۹

28 December 2019

The average price of each square meter of a residential unit in Tehran stood at 134.74 million rials ($1,036) last month, posting a 6.8% increase month-on-month.

Home prices showed an increase of 40% during the month under review compared with the same month of last year. Each square meter of residential units in Tehran was sold at an average rate of 96.31 million rials ($740) during the month under review.

The distribution of deals shows that among Tehran's 22 districts, District 5 grabbed the highest share of total deals with 1,496 and District 19 had the smallest number of deals with only 76, Financial Tribune reported.

Among Tehran’s 22 districts, District 1 registered the highest average home prices at 308.54 million rials ($2,373) per square meter, whereas District 18 offered the capital city’s cheapest homes with average per-square meter prices at 62.39 million rials ($479).

A total of 50,247 deals were registered in the nine months of the current year, posting more than 50% decline compared with same period of last year.

The average price of each square meter of residential unit in Tehran stood at 128.9 million rials ($991) during the nine months, indicating a more than 70% growth year-on-year.

A total of 42,271 construction permits were issued during the nine-month period, showing a 17.6% decrease YOY, News.mrud.ir reported.