Iran, Property Market Snapshot, Spring 2018
During 2016, the volume of private sector real estate investment into urban real estate, including all project construction costs, fell to 701 trillion riyals (~USD 23.3 billion); down from just over 750 trillion riyals a year earlier. To give this context, a total of USD 68.6 billion was invested in UK commercial real estate last year.
It stands to reason that the figure is significantly lower in Iran given that sanctions have hampered the appetite of overseas investors, while the economy remains under pressure from the weakness of the riyal. The riyal’s position has been further undermined in recent weeks due to the ongoing unrest; however, the long term economic impact, if any, is too early to assess.