REAL ESTATE MARKET FROZE

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16:30:47 – 07/10/2009

In anticipation of the signing of the Armenian and Turkish protocols,
an expectant atmosphere has been formed in Armenia. The means of mass
media actively inform about the opinions of political and public
figures and almost no one pays attention to the opinion of the
public which apparently appeared in a complete bewilderment. There
could hardly be found someone in Armenia for whom the opening of the
Armenian-Turkish border is of no difference. Rather, people are not
informed enough to be able to make conclusions. They are perplexed
and prefer waiting.

Anxiety is felt primarily in the real estate market. As realtors
affirm, offer for house sale sharply declined in the last 15
days. Prices increased a little though no one is able to find a logic
explanation to this question. Buyers are also few, consequently,
few are also those who want a hypothec loan. The market is moving
forward by inertia rather it reminds stagnation. There are rumors
about an expected sharp dollar rise after October 10, and now many
try to buy dollars, although there is no rush.