REAL ESTATE PRICES UP IN ARMENIA

news.am
May 5 2010
Armenia

A price rise was registered in Armenia’s real estate market this
January-March as compared with the 4th quarter of 2009.

Specifically, housing prices showed a 2.8% rise in Yerevan, and a 1.5%
rise in the Armenian regions. The prices for private houses showed a
2.9% rise in Yerevan and in Armenian regions, Arman Petrosyan, Head of
the Immovable Property Assessment Department, RA Real Estate Cadastre,
told reporters. He pointed out a lower number of rental businesses.

Petrosyan reported that the number of real estate businesses, as well
as prices, started showing a rise last September. A 22% rise in the
number of real estate businesses was registered this January-March
as compared with the corresponding period last year, with a 32% rise
registered in Yerevan. The highest rise in the number of real estate
businesses was registered in Kotayk and Ararat.

The devaluation of the Armenian dram did not have any serious impact
on the real estate market.