Thursday, May 6 2010 09:40
Collapse of real estate prices not to be expected, a functionary says
ArmInfo. Big collapse of the real estate prices is not expected over the next year or two, the head of the real estate cadastre estimation department under State Cadastre Committee, Armen Petrosyan, told ArmInfo correspondent.
Certain passiveness of customers is also explained by expectation of further collapse of prices, but such expectations and predictions of some experts regarding collapse of prices to the level of the year of 2000 are groundless, as today's prices have not been sexed up, he said.
Petrosyan expressed a strange idea that healthy competition and market prices have been fixed at the real estate of Armenia. For this reason we cannot say about sexing up of prices. But Petrosyan did not rule out such a scenario of development which may become reality if the European countries do not overcome the economical crisis and the second wave of the world crisis starts.