In the regions of Armenia, prices for apartment buildings fell by  4.8% in the first quarter of 2018, with an annual decline of 0.9%

ArmInfo. The average market value of a multifamily in the regions of Armenia fell by 4.8% in the  first quarter of 2018, with an annual decline of 0.9% to 86.4 thousand drams/1 sq.m. This is evidenced by the data of the State Committee of Real Estate Cadastre.

According to the State Committee, the highest prices for apartments  in the regions are traditionally recorded in the resort town of  Tsakhkadzor - 276 thousand drams/1 sq. m, on average, with an annual  decline of 5.6% and a quarterly decline of 8.4%. Then follows the  city of Abovyan, where the price of multi-apartment buildings is  fixed at 156.6 thousand drams/1sq.m, with annual growth of 1.4% and  quarterly growth of 0.3%. And the top three is the city of Baghdad  with the cost per square meter of the apartment of 121.3 thousand  drams, with an annual decline of 23.1% with a quarterly decline of  19.2%.

The lowest prices were recorded in Lori region - Shamluh city - 28.1  thousand drams/1 sq. m, with annual growth of 3.5 times and quarterly  growth - 2 times, followed by Tumanian - 23.4 thousand drams/1sq.m,  which is 2.1 times higher than the annual indicator, with a quarterly  growth of 95%. And the lowest price of apartments was fixed in  Dastakert (Syunik region) - 21.3 thousand drams/1 sq. m, with annual  growth of 2.8 times, and quarterly - by 95.8%.

In the regions of Armenia, for the first quarter of 2018, 1,124  transactions were carried out for the purchase and sale of apartments  in multi-apartment buildings, of which 6% fall on the countryside. On  an annual basis, this indicator fell by 24.9%, and in the quarter -  by 13.7%.

The State Committee of Real Estate Cadastre has changed the format of  the report and calculated the prices for real estate using the new  methodology, starting with the data for the first quarter of 2018, in  which information on prices of private houses is absent. Henceforth,  data on private data will not be published in the reports of the  State Committee for Real Estate Prices. The prices in the reports of  previous periods are also adjusted in connection with the calculation  of the new methodology in order to ensure comparability with the  reporting period under consideration.