Wednesday, March 30 2011 22:24
Housing prices down in Armenia as prices of multi-apartment buildings fell
ArmInfo. The average market price of housing in Armenia fell 0.7%, the State Committee of Real Estate Register of Armenia reported.
Nevertheless, in February 2011 the prices were up 0.1% in general because of the rise of the price of multi-apartment buildings. This segment preconditioned the annual fall of prices.
In particular, apartments in multi-storey buildings grew in price 0.3% (down 1.5% per year) and private houses fell in price 0.2% in Feb (down 0.1% per year). In Yerevan the price of a sq/m of apartments in average grew 0.7% for Feb 2011 (down 3.8% per year) to 260,000 drams in average, whereas in the regions it fell 0.2% (up 0.8% per year) to 82,000 drams in average. Whereas prices for private houses in Yerevan fell 0.1% (1.5% per year) to 276.8 thousand drams in average and in regions the prices were down 0.2% (up 1.3% per year) to 90,000 drams in average.
Changes in the prices for private houses in the capital city and in the regions were as follows: in Yerevan a sq/m of a private house fell 0.1% in average (down 1.5% per year), in the regions the price of a sq/m was down 0.2% (up 1.3% per year). In Yerevan the highest prices were in the Center and Arabkir communities - 468.8 thousand drams and 378,000 drams per sq/m respectively. Then go Kanaker-Zeytun, Davidashen, Nork-Marash, Achapnyak, Malatia-Sebastian, Shengavit, Erebuni and Avan communities where the average price of a sq/m of a private house is 233-289,000 drams. In Nubarashen community the prices of private houses are the lowest - 150.9 thousand drams per sq/m in average.