Sanctions create a mini-boom for Iranian real estate sector

International sanctions on Iran are having an impact on the rogue nation’s economy, but not all sectors are feeli ng the pain.

According to Bloomberg News, permits for new construction in Tehran have increased 87 percent in the June-August period from a year earlier and residential prices have risen at least 15 percent in the past three months.

“People feel the value of their money is dropping, so they want to switch to something that is a fixed asset,” says Mousa Ghaninejad, an independent economist in Tehran.

 

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