Expert: New developments in Armenia led to rise in property prices

ArmInfo. New developments in Armenia led to a rise in property prices, Director of the Real Estate Exchange Artem Pribylsky stated in the conversation with ArmInfo.   "Today there are positive trends, but it is unknown what will happen  tomorrow," the expert said.

In particular, according to him, in view of the political changes in the country, the passivity of the population, including the Diaspora, has decreased, along with which,  migration insignificantly but slowed down. "In the long term, this is  associated with economic activity, but the fact is that the current  situation in the real estate market of Armenia, is mostly connected  with euphoria and the hope for a better future," A. Pribylsky said.

He explained that today those citizens who were selling real estate  have raised prices because of recent developments, but there has not  yet been any significant growth in sales and purchase transactions.

To note according to the State Committee of Real Property Cadastre of  Armenia, in the first half of this year a slight increase in prices  was recorded for the first time in several years both in Yerevan and  in the regions. So, in the first half of last year, property prices  in Yerevan increased by 3.9%, in the regions price growth was fixed  at the level of 2.6%.