Prices for multi-apartment buildings in Yerevan increased by 3.9% per  annum in first half of 2018

ArmInfo. The average market  value of real estate in apartment buildings in Yerevan for the first  half of 2018 increased by 3.9% per annum, making 277.7 thousand drams  / 1 sq. M. This is evidenced by the data of the State Committee of  Real Estate Cadastre.

According to ArmInfo analysts, a slight rise in prices in the first  half of the year was registered for the first time in the last few  years. So, in the first half of last year, property prices in Yerevan  fell by 2.8%, by the end of last year, the decline was 3.5%. Thus,  analysts believe, today it is more likely to assert about the  beginning of the formation in the real estate market of optimistic  expectations related to internal political processes and activation  of investment processes.

So, according to the State Statistics Committee, the highest prices  for apartments in Yerevan are traditionally kept by the community of  Kentron (Center) - an average of 504.2 thousand drams / 1 square  meter, with an annual growth of 15.8%. Then follows Arabkir, where  the price of multi-apartment buildings is fixed at 361.5 thousand  drams / 1kv.m., With annual growth of 4%. The top three Davitashen  leaders are closing - with an annual growth of 6.7% to 279.1 thousand  drams / 1 sq. M.

The lowest prices for housing in the capital remain in the community  of Nubarashen, where the square meter of the apartment for the  reporting period averaged 161.6 thousand drams / 1 square meter, with  an annual growth of 3.1%. The rise in property prices in the capital  was also recorded in the communities of Shengavit - by 1.7% to 251.3  thousand drams / 1kv.m., Erebuni - by 1.8% to 247.5 thousand drams /  1kv.m., Ajapnyak - by 2 , 1% to 245.3 thousand drams / 1 square  meter. and Malatia-Sebastia - by 0.8% to 237.5 thousand drams / 1 sq.  m.

In the rest of the metropolitan communities recorded a small in the  technical error price decline. In particular, the cost per square  meter of the apartment in the Kanaker-Zeytun community decreased by  0.4% to 272.5 thousand drams, Avan - by 0.1% to 254.5 thousand drams  / 1 sq. M. and Nor-Nork - by 1.3% to 239.8 thousand drams / 1 square  meter.

According to the State Committee, in Yerevan in the first half of  2018, 5,346 transactions were carried out for the purchase and sale  of apartments in multi-apartment buildings, which is 27.8% more than  the figure for the previous year. The lion's share of these  transactions - 19.6% - fell on multi-apartment buildings in the  Center community, and a meager 0.2% on Nork-Marash.

To note, The State Committee for the Cadastre of Real Estate of the  Republic of Armenia changed the format of the report, starting with  the data for the first quarter of 2018, in which information on  prices of private houses is missing. Henceforth, the data on private  property data will not be published in the State Property Price  Reports.