Price stat for apartment (m2)
Center
$1348

Large Centre
$970

Arabkir
$880

Kanaker-Zeytoun
$604

Achapnyak
$636

Davitashen
$641

Nork-Marash
$490

Shengavit
$628

Charbakh
$565

1-6 Nork district
$631

7-9 Nork district
$492

Avan, Avan-Arindge
$762

Erebouni
$539

Malatia-Sebastia
$569

Regions
$367

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2012-06-22

Prices for Armenian Real Estate Again Decrease

In Armenian real estate market there has been observed a definite decrease of prices. This decrease of prices primary depends on the offer and demand: What about the decrease of price on 4% it is even about 6%. It should be noted that since February in the small center of Yerevan, the average price for sq.m living area is $ 1200 - $ 1500, in the large center - $ 1200 - $ 1300: And what about the outskirts of the capital, such as in the administrative district of Shengavit price for 1 sq.m. is $ 500 - $ 650, but in the administrative district of Arabkir, Komitas avenue - the price is $ 850. "

Reduced of land prices is also recorded: For example, in Nork-Marash and Arabkir the price for 1sq.m land is $ 100 - $ 150 and in more remote areas of the capital - $ 50 - $ 30.

The second option is: The decrease of prices is due to the large number of proposals in the absence of demand. More and more people are selling their apartment in Yerevan. Number of real estate in Yerevan is incomparably increased. The reduction is not so much noticeable, but more and more people have started to offer their real estate in Yerevan for sale. It is fact that people are selling their houses, business and apartments in Yerevan in order to leave the country.

Note that according to the State Committee of Real Estate Cadastre, the average market price for apartments in Yerevan in February 2011 compared to the same period in 2010 decreased by 3.8% per 1 sq. m of living space. In comparison with the previous month in February 2011 the prices for apartments in Yerevan increased by 0.7%.

According to real estate cadastre in February, there has been sold twice more apartments in Yerevan than in January. According to official figures, the highest prices for apartments have been preserved in the center of the capital, where the price for 1 sq.m was 442.8 thousand drams, and the lowest - on the outskirts, in Nubarashen - 149 thousand drams per sq.m ($ 1 - 369 , 11 AMD).

 




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Price stat for apartment (m2)