Wednesday, March 30 2011 22:26
Activity in the real estate market up 54% by March 2011
ArmInfo. Transactions in the real estate market of Armenia grew 54% in Feb 2011 versus Feb 2010 and totaled 14834. This indicator grew 10.6% for February alone, the State Committee of Real Estate Register of Armenia told ArmInfo.
The source reported that the number of transactions in Yerevan was the biggest - 32.9% of total. The biggest number of transactions in the regions were registered in Kotayk - 12.9% of total and Gegharkunik - 9%. The lowest number of transactions were registered Vayots Dzor - 3% in Feb 2011. The source reported that out of 3538 transactions on alienation of real estate (up 36.9% for Feb and 6.6% per year) 78.3% were purchase/sale transactions, 21.1% were inheritance, and 0.7% were exchanges. 36% of total transactions were registered in Yerevan. The share of transactions on alienation of multi-apartment buildings in total was 38.5%. In Yerevan 71.9% of total purchase/sale transactions was the share of multi- apartment buildings (doubled for Feb, up 19.4% per year). Purchase/sale transactions on private houses totaled 336 on March 2011, including 84 in Yerevan and 252 in the regions. Total number of purchase/sale transactions on private houses in Feb grew 26.3% (down 9.4% per year), in Yerevan - 31.1% (up 13.5% per year) and in the regions - 24.8% (down 15.2%).
18.4% of total transactions on real estate were primary registration, 11.6% - transfer of the real property heritably, 12.9% were hypothecary deals and 4.7% were leasing transactions. However, transaction on other state registrations of real estate totaled 28.5%.