By March 2016 real estate transactions in Armenia grew 10.7% over year

ArmInfo. In Feb 2016, a total of 13333 real estate transactions were made in Armenia (up 10.7% versus Feb 2015, up 37.2% versus Jan 2016). Yerevan demonstrated the biggest amount of real estate deals - 34.9%, with the top three provinces being Kotayk (10.1%), Armavir (8%) and Ararat (8%).

The State Committee of the Real Estate Cadaster of Armenia says that the share of alienation deals in the total amount of transactions was 29.2% or 3897 deals (up 1.6% versus Feb 2015, up 66% versus Jan 2016).  37.7% of the alienation deals were registered in Yerevan, including 36% in apartment buildings. The number of purchase and sale transactions throughout the republic grew by 3.7% over year (apartment deals by 0.3%, private house deals by 7.2%). In Yerevan, the purchase and sale transactions with apartments and private houses grew over year by 16.8% and 14.7%, respectively, those in the provinces dropped by 16.2% and by 0.4%, respectively.

Marina Chatinyan, Director of Bars Real Estate Agency, told ArmInfo in February that the real estate transactions have been declining for the past few years. She said that even the inflow of labor migrants from Russia has not awakened the market.

To recall, the real estate transactions in 2015 totaled 180,944 with a 15.5% decline versus 2014. Deals in Yerevan accounted for 34.4% of total. 27.6% or 50,023 of the total transactions were alienation deals, of which 72.8% are purchase and sale transactions.  Purchase and sale of apartments and private houses dropped by 14.7% and 17.4%, respectively.