APARTMENT PRICES FALL IN YEREVAN

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[07:49 pm] 27 November, 2008

As of October 2008, there were 14,550 real estate deals in
Armenia. This number has gone down by 9.1% compared to October 2007,
while the number of houses sold rose by 10.0% in September 2008.

In October 2008, 82.3% of 5,035 alienated real estate deals were
sale and purchase, 16.5% were donations and 1.2% was barter. 30.0%
of alienation of real estate was registered in Yerevan, while 31.7%
of alienated real estate was the homes of apartment buildings.

According to data provided by the State Management Agency for Real
Estate Management, the average market prices for apartments in
multi-apartment buildings measuring 1 square meter went down by 0.3%
in October 2008 compared to prices in September 2008.

In October 2008, besides Yerevan, 426 apartments were sold in the
Marzes; that number rose by 9.8% compared to September 2008 and 20.7%
compared to October 2007.