ArmInfo.The average market value of real estate in apartment buildings in Yerevan in July 2020 compared to July 2019 increased by 7.1% (to 336.3 thousand drams / 1 sq. m. on average). Moreover, the rise in prices was accompanied by a decrease in the number of transactions by 16.4%. This is evidenced by the data of the RA Real Estate Cadastre State Committee.
According to the agency's data, a much more contradictory situation developed in July - prices for apartments in the capital somewhat "declined", by 1.7%, but the number of transactions increased sharply - by 42.1%, which may indicate a significant increase in supply and restrained demand.
The highest prices for apartments in Yerevan are traditionally in the Kentron (Center) community - on average 645 thousand AMD / 1 sq. m. (6.6% y-o-y growth, 2.6% monthly decline). Then comes Arabkir, where the price of apartment blocks is fixed at 450 thousand AMD / 1 sq. m. (9.2% y-o-y growth, 2.2% monthly decline). Davidashen closes the top three - 333 thousand drams / 1 sq. m. (4.6% y-o-y growth, 2.1% monthly decline). The lowest housing prices in the capital remain in the Nubarashen community, where a square meter of an apartment averaged 181 thousand drams / 1 sq. m., with a y-o-y growth of 2.8%, and a decline in July by 1.6%.
It should be noted that the y-o-y growth in prices for apartments in the capital was recorded in all communities, while the monthly trend, as noted above, is moderately downward. In particular, in Kanaker- Zeytun - prices increased by 6.9% year-on-year to 326 thousand drams (with a monthly decline of 1.5%), Nor-Nork - by 8.8% to 290.1 thousand drams / 1sq .m. (with a monthly decline of 1%), Erebuni - by 6.1% to 286 thousand AMD / 1sq.m. (with a monthly decline of 1.4%), Shengavit - by 7.9% to 297 thousand drams / 1 sq. m. (with a monthly decline of 1%), Ajapnyak - by 8.4% to 310 thousand AMD / 1 sq. m. (with a monthly decline of 1.2%), Malatia-Sebastia - by 7.9% to 287.2 thousand AMD / 1 sq. m. (with a monthly decline of 1.3%) and Avan - by 7.9% to 294 thousand drams / 1 sq. m. (with a monthly decline of 1.3%).
According to the State Committee, a total of 1,235 transactions for the purchase and sale of apartments were carried out in Armenia in July 2020, of which the lion's share (66.4%) fell on Yerevan with a y-o-y decline of 12.4%, with a monthly growth of 62.4 %. At the same time, the largest number of purchase and sale transactions was made in the administrative region of Arabkir (16.8%) and the smallest in Nubarashen - 1%.
At the same time, 153 apartment rental transactions were carried out in the country in July 2020, which is 77.9% more than a year ago, with a monthly growth of 14.2%. Most of these transactions (60.1%) were made with apartments in the capital, with a y-o-y growth of 37.3%, with a monthly growth of 17.9%.
At the same time, the lion's share (48%) of transactions for the purchase and sale of real estate falls on land plots. Land, amid the coronavirus, is still the most attractive asset. According to official data, 2,295 land transactions were carried out in Armenia in July. In y-o-y terms, this indicator increased by 20.6%, with a monthly growth of 11.2%. At the same time, Yerevan accounts for a scanty part of these transactions - 177 (with a y-o-y growth of 24.8%, with a monthly decline of 0.6%), while the Kotayk region close to Yerevan is in the lead - 809 transactions (with a y-o-y growth of 94.5%) with a monthly growth of 30.7%.
It should be noted that the State Committee of the RA Real Estate Cadastre changed the format of the report, starting with the data for the first quarter of 2018, in which information on the prices of private houses, for some unknown reason, is not published.
