Financial Tribune - Latest figures provided by the Planning and Housing Economy Office of the Ministry of Roads and Urban Development show the average price of each square meter of a home in Iran's capital city, Tehran, stood at 82.41 million rials ($588) in the last Iranian year (ended March 20, 2019), signaling a year-on-year surge of 71.1%.

This is while a total of 130,396 home deals were signed during the period under review, which is 29.2% fewer compared to the preceding year.

The report also shows the average price of each square meter of a residential unit in Tehran stood at 110 million rials ($785) during the final Iranian month of last year (Feb. 20-March 20, 2019), registering a 95.4% increase compared with the previous year's similar month.