Real Estate in Armenia Has Depreciated

The decline in property prices can be seen both in Yerevan and in other regions of the country. Prices for apartments in Yerevan fell 4% on average.

For example, 1 sq/m in multi-blocked house costs 649 dollars, when in 2011 the price was $675. With the decrease in prices in parallel the prices on the purchase and sale of apartments obviously dropped. Compared to 2011, the number of apartments sold in 2012 decreased 17%.