TWO ROOM FLAT COSTS $80,000 IN ELITE COMMUNITY

Panorama.am
13:56 20/09/06

"Real estate will not go up in prices because the supply of newly
built buildings is high," Vruyr Penesyan, director of a real estate
agency, told reporters today. He also said the pre-election campaign
also affects the prices. "Many citizens plan to buy real estate after
elections," he said.

The director is sure that the prices of apartments in newly built
buildings will go up after elections. He also indicated that some
customers prefer houses willing to be far from the noise of the city,
particularly in Vahagn community.

Penesyan said two-room flat costs $80,000 in elite communities. He
also said some owners have revised the prices setting them in euro
because of the devaluation of dollar.