ArmInfo.n Armenia, real estate transactions are on the rise despite the ongoing coronavirus pandemic. Head of the State Committee for Real Estate Cadastre of Armenia Suren Tovmasyan said this at a press conference on September 23.
According to him, in August alone, 16,491 real estate transactions were made, which is 1.5% higher than the July figure, and 6.3% more compared to August 2019.
The Head of the State Committee noted that with the resumption of the normal operation of the offices of the State Cadastre Committee and with the removal of restrictions, 4,904 transactions on the purchase and sale of real estate were made in Armenia, of which only 1,323 were in Yerevan. In this regard, Tovmasyan drew attention to the fact that against the background of a slight decrease in the number of transactions in the capital, in the cities of the regions of Armenia, transactions increased by 7%, in rural areas- by 39%. He caused the decline in transactions for sale and purchase in Yerevan by a decrease in real estate prices in the period from June to August by 1% -1.5%. However, at the moment, real estate prices, he said, are stable, there is no growth or decline.
Moreover, Tovmasyan said that over the past few months, after the restrictions were lifted, the State Committee for Real Estate Cadastre began to receive about 3 thousand applications a day on average. "This is a fairly serious indicator, and suggests that there is a revival in the real estate market, no matter what. If we don't face the second wave of coronavirus the real estate market will even more stabilize, and we will register even higher rates>, he concluded.
To note, according to the State Committee of the Real Estate Cadastre in August 2020 16,491 real estate transactions were completed, which is 1.5% higher than in July, and 6.3% more compared to August 2019. Out of the total number of transactions, 5243 were made in Yerevan (with a y-o-y decline of 1%, and a monthly growth of 3%). In particular, during the month, 1,323 real estate purchase and sale transactions were made in the capital, which is 14.1% and 4.8% lower in y-o-y and monthly terms, respectively.
The number of deals for the purchase and sale of apartments in the capital amounted to only 735, which is 27% lower than a year ago, with a decline of 10.4% over the month. The administrative district of Arabkir (20.1%) is in the lead by the number of transactions for the purchase and sale of apartments, and traditionally the lowest percentage (1.6%) falls on Nubarashen.
At the same time, the average market value of real estate in apartment buildings in Yerevan in August 2020 compared to August 2019 increased by 4.8% to 332.5 thousand drams / 1 sq. m. on average, with a monthly decline of 1.1%.
The highest prices for apartments in Yerevan are traditionally held by the Kentron (Center) community - on average 630 thousand AMD / 1 sq. m. (2.9% y-o-y growth, 2.3% monthly decline). Then comes Arabkir, where the price of apartment blocks is fixed at 440 thousand drams / 1 sq. m. (y-o-y growth of 5.6%, monthly decline of 2.2%). Davidashen closes the top three - 333 thousand drams / 1 sq. m. (y-o-y growth of 2.8%, monthly decline of 0.9%). The lowest housing prices in the capital remain in the Nubarashen community, where a square meter of an apartment averaged 180 thousand drams / 1 sq. m., with an annual growth of 1.1% and a decline of 0.6% in August.
The lowest housing prices in the capital remain in the Nubarashen community, where a square meter of an apartment averaged 180 thousand drams / 1 sq. m., with a y-o-y growth of 1.1% and a decline of 0.6% in August.
In the regions of Armenia, 3581 transactions on the purchase and sale of real estate were completed, demonstrating, both in y-o-y and monthly terms, an increase of 26.2% and 5.5%, respectively. At the same time, the highest indicator in the regions was registered in terms of transactions with land (63.2%), and the lowest - with buildings of industrial significance (1.8%). According to the official data, only 415 transactions for the purchase and sale of apartments were carried out in the regions of the RA, with an y-o-y decline of 28.7%, with a monthly invariability.
The average market value of apartments in the regions of Armenia increased in August 2020 compared to August 2019 by 2%, with a decline of 0.3% per month, amounting to 106.7 thousand drams / 1 sq.m.
According to cadastral data, the highest prices for apartments in the regions are traditionally held in the resort town of Tsaghkadzor - 281 thousand AMD / 1 sq. m. on average, with a y-o-y growth of 0.7% (with a monthly decline of 0.4%). This is followed by the city of Abovyan, where the price of apartments was fixed at the level of 185.5 thousand drams / 1 sq. m., with a y-o-y growth of 9.1%, with a monthly decline of 1.1%. And the top three is closed by the city of Vagharshapat with a cost per square meter of an apartment of 158.5 thousand drams, with a y-o-y growth of 11.6%, and a monthly growth of 0.9%.
The lowest prices were recorded in Tumanyan city (Lori region) - 23 thousand drams / 1 sq. m. (with an annual and monthly decline of 4.2%), followed by the city of Akhtala (Lori region) - 36 thousand drams / 1 sq. m. (with an annual decline of 7.7% and a monthly decline of 2.7%) and Chambarak city (Gegharkunik region) - 40 thousand drams / 1 sq. m. (with an annual decline of 9.1%, and a decline for the month by 2.4%).In total, 1,150 transactions for the purchase and sale of apartments were made in the country, which is 27.6% higher than a year ago, with a 6.9% decrease over the month. The largest number of transactions (63.9%) was carried out in Yerevan, and the lowest percentage (0.5%) falls on the Vayots Dzor region.
