PRICES OF PRIVATE RESIDENTIAL HOUSES GROW BY 3.8% IN YEREVAN SINCE EARLY 2008

Noyan Tapan

Ma y 15, 2008

YEREVAN, MAY 15, NOYAN TAPAN. 1,447 transactions on purchase-sale of
private residential houses were concluded in Armenia in the first
quarter of 2008, including 321 transactions in Yerevan. The number
of purchase-sales of private houses declined by 29.6% as compared
with the 4th quarter of 2007, including a decline of 43.7% in Yerevan
and a decline of 24.2% in all the marzes taken together. The number
of transactions on purchase-sale of private houses grew by 0.2% as
compared with the 1st quarter of 2007, including a growth of 21.1%
in Yerevan and a decline of 4.5% in all the marzes taken together.

According to data of the State Committee of the Real Estate Cadastre
adjunct to the RA government, the average market ptices of private
houses in Yerevan’s communities grew by 3.8% in the 1st quarter of
2008 on the 4th quarter of 2007. The prices of a 250 sq.m. building
with a 400 sq.m. personal plot made (per square meter): in Kentron
community – 486 thousand drams (about 1,567 USD), in Arabkir –
396.4 thousand drams, in Kanaker-Zeytun – 307.4 thousand drams, in
Nork-Marash – 265.8 thousand drams, in Avan – 267.1 thousand drams,
and in Erebuni – 265.9 thousand drams.

The average prices of private residential houses grew by 7% in the
indicated period as compared with 4th quarter of 2007 and made (per
square meter): Ashtarak – 118.9 thousand drams, Aparan – 34.5 thousand
drams, Talin – 43.9 thousand drams, Artashat – 97.5 thousand drams,
Dilijan – 86.9 thousand drams.