HOUSING PRICES IN ARMENIA ARE LOWER THAN THOSE IN 2008

ArmInfo
15.03.2010

ArmInfo. In January 2010 the housing prices in Yerevan fell lower than
the level of 2008, the reports of the State Committee of the Real
Estate Cadastre say. According to the source, the average price per
sq.m. in the apartment buildings in Yerevan amounted to 269.8 thsd AMD,
this index being by 5% lower than in Jan 2009, and by 0,6% lower than
in Jan 2008. The price decline affected the buying activity and by
the end of January 2010 the number of purchase and sale transactions
in Yerevan grew by 35% as compared with the same period of 2009.

Yerevan maintains its leading position by prices in Yerevan. The
highest prices are fixed in the central part of the capital,
particularly, in Kentron (Center) community, where the average pruce
per sq.m. is 473 thsd AMD. In Arabkir community prices are over 370
thsd AMD, in the rest of communities ~V over 200 thsd AMD, except
Nubarashen, where the average price per sq.m. is 142 thsd AMD.

In the regions of Armenia the highest prices of real estate are
in Tsaghkadzor, Abovyan, Vagharshapat, Ashtarak, Goris, Ijevan,
Nor Hachn, Masis, Armavir, Gyumri, Yeghvard, Jermuk, Yeghegnadzor,
and Byureghavan, where the average price ranges from 100 thsd AMD to
190 thsd AMD per sq.m. At the same time, according to the source,
the prices of flats in the regions fell by 3% as compared with the
same period of 2009.

As regards private houses, by the end of January 2010 in Yerevan
their average price made up 279 thsd AMD, which is lower than 13%,
and by 0,8% higher as compared with the end of December 2009, while
in the regions the annual decline made up almost 2%, and the monthly
growth – 0,7%. As a result, in Yerevan the following prices were
fixed in Yerevan: in Kentron and Arabkir communities – 481 thsd
AMD and 377 thas AMD; in Kanaker-Zeytun, Davidashen, Nork-Marash,
Ajapnyak, Malatia-Sebastia, Shengavit, Erebouni and Avan the average
price ranges from 230 to 290 thsd AMD. The lowest price of private
houses was fixed in Nubarashen – 146 thsd AMD per sq.m.

In the regions the highest prices of private houses was fixed in
Tsaghkaszor – 303 thsd AMD per sq.m., the lowest price ~V in Shamlukh –
7.4 thsd AMD.