Real Estate Still In Demand In Armenia

Emil Lazarian News

REAL ESTATE STILL IN DEMAND IN ARMENIA

PanARMENIAN.NET
09.09.2009 15:46 GMT+04:00

/PanARMENIAN.Net/ "Real estate is still in demand in Armenia,"
International Monetary Fund representative in Armenia, Ninke Omes
stated. "Lots of people in Armenia wish to have good accommodation,"
she stated.

At the same time, other spheres of economy also need developing,
as RA economy was too dependent on construction sphere.

According to Omes, real estate sector in rather unstable, with purchase
and sale depending on real estate price fluctuations.

RA economy has registered some tendencies towards restoration,
which is proved by July 2009’s moderate price growth for construction
works. In this context, Omes added that currently construction share
in GDP is fixed at 14,1%, while during the first 7 months of 2009 it
comprised 18,5%.

From: Emil Lazarian | Ararat NewsPress

Emil Lazarian

“I should like to see any power of the world destroy this race, this small tribe of unimportant people, whose wars have all been fought and lost, whose structures have crumbled, literature is unread, music is unheard, and prayers are no more answered. Go ahead, destroy Armenia . See if you can do it. Send them into the desert without bread or water. Burn their homes and churches. Then see if they will not laugh, sing and pray again. For when two of them meet anywhere in the world, see if they will not create a New Armenia.” - WS