property
Tehran Property Prices Surge at 2021 Boom Pace in Key Districts
Median apartment values have climbed at a pace last recorded during the 2021 upswing, with sales volumes in core neighborhoods matching those earlier peaks.
How we reported this
Apartment prices across central Tehran rose 38 percent year-on-year by the end of June, matching the monthly gains recorded during the 2021 boom cycle when average square-metre values jumped from 120 million to 165 million rials in six months.
The parallel matters now because renewed US strikes south of the country and the funeral procession for Ayatollah Khamenei have pushed buyers who hold foreign currency into residential assets as a hedge, exactly as occurred after the 2020 sanctions tightening.
Activity in Elahieh and Niavaran
Real-estate offices along Valiasr Street between Parkway and Vanak Square reported 47 signed contracts last week, the highest weekly total since September 2021. In Niavaran, developers who completed projects in 2023 have raised asking prices on remaining units from 240 million to 310 million rials per square metre, the same differential seen between early and late 2021 listings.
The Tehran Municipality’s online permit portal shows 1,240 new residential construction licences issued in the first half of 2026, a figure that aligns with the 1,180 permits recorded for the same period in 2021 before the previous cycle peaked.
Transaction Data and Outlook
Figures released by the Tehran Real Estate Union on 5 July put the median transaction price at 285 million rials per square metre city-wide, up from 206 million rials in July 2021 when adjusted for the same basket of districts. Cash buyers accounted for 62 percent of deals, identical to the share observed in the final quarter of the 2021 run.
Agents advise sellers to list units within 5 percent of recent comparable sales rather than testing higher marks, while buyers should secure pre-approvals from Bank Melli branches on Shariati Avenue before touring properties in Darrous or Shemiran to avoid delays if currency volatility returns.
This article is general information only and is not personal financial or investment advice. Consider your own circumstances and seek licensed professional advice before making financial decisions.