Tehran's housing market slips into a transaction slump as sellers come to outnumber buyers

A field survey of the Tehran housing market published by Eghtesad Online on Sunday 2 August 2026 (11 Mordad 1405) finds the market has entered a new phase now that political risks have receded: growth in asking prices has stopped, but the slump in transactions has deepened, and in many Tehran districts the number of units listed for sale now exceeds the number of buyers.

According to the report, most of the price increases in the early months of the 1405 Iranian year came not from fundamental shifts in housing but from external shocks: general inflation, jumps in the currency and gold markets, rising construction costs and the inflation expectations stirred by the war. Once a ceasefire was announced and those expectations eased, the psychological pressure drained away, but the drop in uncertainty did not translate into more deals. The market moved into a waiting phase instead.

The report says sellers with a genuine need for liquidity are showing more flexibility in price negotiations than in previous months, a pattern more visible in Tehran's mid market districts than in luxury areas. The gap between listed asking prices and the prices actually agreed in completed deals has widened, and many listings have gone weeks without a buyer.