Thursday, December 6 2018 17:35

ArmInfo.Average market value of an apartment in Yerevan increased by 2.3% with a y-o-y growth of 10% in the third quarter of 2018 reaching 287.8 thousand  AMD / 1 sq.m. This is evidenced by the data of the State Committee of  the Real Estate Register of Armenia.

According to the source, the highest prices for apartments in Yerevan  are traditionally recorded in the Kentron community (Center) - 543.9  thousand AMD / 1 sq. m. on average, with a y-o-y growth of 20.1% and  quarterly growth of 5.1%. Arabkir is the next, where the price for  apartment  is fixed at 374.9 thousand AMD/ 1 sq. m., with a y-o-y  growth of 9.4% and a quarterly increase of 2.9%. Davidishen closes  the top three - 291.2 thousand AMD / 1 sq. m., with an increase of  15.9% per annum, with a quarterly increase of 2.6%.

The lowest housing prices in the capital remain in the Nubarashen  community, where the square meter of the apartment during the  reporting period was 167.4 thousand AMD/ 1 sq. m. on average, with a  y-o-y growth of 7.3% and quarterly growth of 1%.

In Yerevan, in the third quarter of 2018, 4616 transactions on the  purchase and sale of real estate were made, of which 67.8% or 3130  transactions fall on the sale and purchase of apartments in  multi-apartment buildings. In y-o-y terms, this figure increased by  16.9%, and in the quarterly terms - by 5.8%. The major share of  transactions fell on the Center community - 19.2%, and the smallest -  0.4% - on Nubarashen.  Earlier in a conversation with ArmInfo, the  director of the "Bars" real estate agency Marina Chatinyan explained  positive changes in the domestic real estate market, partly with  trends in the global economy, which somewhat later led to economic  stabilization in Armenia. In connection with the changes associated  with the latest political events in Armenia, M. Chatinyan reported  that several emotional purchases had been made, but the expert does  not share optimism about the new global construction. The director of  the agency explained: "The situation will become clearer when a  certain time passes, the situation in the country stabilizes, the  government will move from words to concrete actions, which will  certainly lead to an increase in interest in real estate, including  commercial one."

At the same time, the expert noted that the statement by Prime  Minister Nikol Pashinyan about the rise in prices for real estate in  Armenia by 25% will negatively affect the overall market situation.  "Prices are rising, but the buyer is not ready for them. This will  stop the rise in prices, and as a result, a rollback may occur if  demand does not respond adequately to the price offer. In particular,  the traditional decline in real estate prices should be expected in  the winter, and in some cases when there is an urgent need for sales  ", - the expert said. She expressed the hope that the situation in  the country is still stabilizing, which will lead to more active  construction, in particular, there will be new legislative  initiatives and tax remissins for developers and investors.

To note, the State Committee of Real Estate Register of the Republic  of Armenia changed the report format, starting with the data of the  first quarter of 2018, in which information on the prices of private  houses is not available, and will not be published in the future.