Building Permits Surge Nationwide

The latest report released by the Statistical Center of Iran on Saturday shows residential construction permits issued this summer have increased both in Tehran and across the country.

The data, which reflect the construction market's status at the national level rather than just the capital Tehran, is a further sign that the key housing sector is on the mend after a longstanding slump.

"In the summer of the current fiscal year, a total of 82,520 building permits were issued by municipalities across the country for the construction of residential units, which indicate a rise of about 6.3% compared with the previous season and an increase of about 6.4% compared with the same season of last year," SCI declared.

The report, which also gathers data on construction permits issued by municipalities throughout the country and was made available on SCI's website, puts the average number of residential units to be built per construction permit at 8.2.

This shows that 29,538 construction permits were issued by municipalities in the summer, which shows a 2.1% decline compared to spring, but indicates a 9.4% hike when compared with the previous summer.

In outlining the data for Tehran, the center reports that the construction of 18,767 residential units was predicted in the summer of the current fiscal year.

This indicates a hike of about 6.25% compared to the previous quarter and a year-on-year increase of about 9.9% compared with the same season of last year.

"The average number of residential units to be built with each construction permit stood at 7.1 units," SCI reports, adding that 2,631 construction permits were issued by Tehran Municipality in the summer.

That is indicative of a rise of about 8.15% compared to the previous season and an increase of about 7.10% in comparison with the summer of last year.

Tehran Municipality issued construction permits for an area measuring 13,541 square meters in the summer, which marks a rise of about 5.32% compared to the previous summer and a rise of about 7.5% in comparison with the same season of last year.

"The average area of these permits in the reviewed permits has been about 1,346 square meters," the SCI concludes.

source: Financial Tribune

Statistical Center of Iran Tehran Municipality