Data released by municipalities and the Iran statistics centre show the number of residential building permits issued by Iran’s largest cities has halved over the past two years. At the same time, demand for construction materials has plunged by 30 per cent, according to the union of construction materials sellers.
A recent rise in the amount Iranians can borrow to buy a property has not yet breathed fresh energy into the sector.
Home ownership has long been important to Iranians. A house often is the only inheritance a middle-class family will leave for children. Official figures show about two-thirds of Iranians live in their own home.
From Finantial Times (full article)