TEHRAN, Iran — Signals from the Iranian real estate market suggest that a recovery is on the way, after an almost three-year-long recession. Yet there are contradictory statements being made about the likelihood of a property boom. Indeed, those who are practically engaged in the housing industry are relatively optimistic about speedy growth, while analysts believe a sharp hike in prices is unlikely.
The number of property deals in the 12-million-strong market in Tehran rose by 27.6% in the month to July 21, compared with the same period last year. However, the figure dropped 4% compared with the month before, according to the Central Bank of Iran’s latest housing report. Meanwhile, trading of mortgage bonds in the over-the-counter Iran Fara Bourse rose 11% in the week to July 21, ILNA reported, citing data released by the Central Securities Depository of Iran.