Tehran Times - The number of real estate deals in Tehran City fell 73.7 percent in the fifth Iranian calendar month of Mordad (July 23-August 22), compared to the same month in the past year, Tasnim news agency reported citing the data released by Ministry of Transport and Urban Development.

The number of deals during the fifth month of this year has been 2,931, falling from 11,154 in the same month of the previous year.

As previously announced by Ministry of Transport and Urban Development, the number of real estate deals in Tehran City fell 44.8 percent in spring, which corresponds to the first quarter of Iranian calendar year, compared to the same quarter in the past year.

The ministry’s report said that the number of deals during the first quarter of this year has been 21,537, and the housing price has risen 106 percent year on year in the capital city.