<p dir="LTR"><span>Financial Tribune – The average house price in Tehran during the last month of summer (Aug. 23- Sept. 22) increased by 9.7% from a year ago—a measure of the cost per square meter of floor space.</span></p> <p dir="LTR"><span>The latest survey by the Central Bank of Iran also indicates that house prices per square meter registered a monthly increase of 1.9% to stand at 47.6 million rials ($1,220).</span></p> <p dir="LTR"><span>The report sees the price increase as a sign of the key housing sector entering the recovery phase after an impressive performance during the previous month, the latest issue of CBI’s “Trends in Tehran Housing Market” reported.</span></p> <p dir="LTR"><span>District 5, located in the northwest of the city, and experienced the highest average growth in price at 12.5% compared with the same period of last year.</span></p> <p dir="LTR"><span>Prices for residential units located in District 22 experienced the lowest rise at 0.4%. This is while the district continues to record the highest number of sales among Tehran’s 22 districts, accounting for 16.9% of the total home sales. Districts 4 and 2 come next at 10.9% and 9.9%, respectively. </span></p> <p dir="LTR"><span>The trendy District 1, with an average price of 100.4 million rials ($2,564) per square meter, is the most expensive area while in southern parts–which include District 18 (the cheapest neighborhood)–the average home price hovers near 22.8 million rials ($584) per square meter. Prices in districts 1 and 18 grew by 10.3% and 7.8%, respectively.</span></p>