Wednesday, July 27 2011 14:50

Average market price of housing in Armenia annually dropped by 4.7% due to reduction in prices of flats and private houses in Yerevan


ArmInfo. The average market price of housing in Armenia annually has dropped by 4.7% due to reduction in prices of flats and private houses in Yerevan. The State Committee of the Real Estate Cadastre of Armenia reports that in June 2011 the total level of prices rose by 0.4%, which is conditioned by slight growth in housing prices in the regions of the country.

In particular, In June the flats in multi-storey buildings rose in price by 0.2% (5.4% annual decline), and the private houses rose in price by 0.4% (4.1% annual decline).

In June 2011 the price per sq m in the apartment buildings in Yerevan declined by 0.3% (9.3% annual decline) to 256.8 thsd AMD in the average, and in the regions - the prices rose by 0.6% (1.4% annual decline) to 82.7 thsd AMD in the average. At the same time, the prices of private house in Yerevan underwent no changes in June (6.4% annual decline) - 273.4 thsd AMD in the average, and in the regions - the prices grew by 0.8% (1.8% annual decline) to 91.4 thsd AMD in the average.

According to the source, Yerevan remains the leader by flats prices, and the highest prices are fixed in Center (Kentron) community, where the average price per sq m of flats in apartment buildings as of 1 July 2011 made up 441 thsd AMD, having declined by 0.7%, and by 7.7% as compared with the same period of 2010. In Arabkir community of Yerevan the prices per sq m made up 342 thsd AMD (0.2% decline for June and 13.5% annual decline).

The rest of the Yerevan communities the prices start from 221.1 thsd AMD, except Nubarashen, where the average price per sq m makes up 148.7 thsd AMD (0.6% annual growth).

In the regions of Armenia the apartment prices are lower than in the capital city. The highest price was registered in Tsakhadzor - 186.2 thsd drams per 1sq/m (growth by 2,6% as against 2010), in Abovyan - 141.7 thsd drams (growth by 13%). In other towns of Armenia the apartment prices are 103-141 thsd drams for 1 sq/m.

The total of 330 deals on apartment sale were fixed in June 2011, which is by 4,8% more than in May, and by 10,8% lower of the indicator of June 2010.

The prices for the private houses in Yerevan by 1 July 2011 remained at the same level 273.4 thsd drams on average. The highest prices for private houses were fixed in Kentron and Arabkir districts of Yerevan - 461 thsd drams and 372.2 thsd drams for 1sq/m. The lowest price for private houses was fixed in the Nubarashen district of Yerevan - about 150 thsd drams per 1sq/m. As for the regions of Armenia, maximal price for a private house was fixed in Tsakhadzor - 306.5 thsd drams per 1 sq/m and minimal in Shamlukh - 9.7 thsd drams.
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