The Iranian ]real estate market remains stagnant and experts say it will stay that way until there is a change in the public’s purchasing power.

housing market

The Mehr News Agency reports that real estate agencies say the market is still in recession and there is no traffic at real estate offices.

There had been some speculation that the removal of international sanctions would trigger a change in the real estate market; however, weeks after the removal of the sanctions was announced, there is still no noticeable change.

While some experts say the real estate market may see some movement in the coming year, many do not share this optimism.

A real estate expert tells Mehr that while prices have fallen to a certain degree in the past two years, the people’s purchasing power has not improved.

He adds that the removal of sanctions cannot have a direct effect on the public’s purchasing power, and to make a dent in the stagnating housing market, the government needs to implement policies that would improve people’s employment and income situation.