Monday, May 3 2021 16:34
Alina Hovhannisyan

Prices for apartments in Yerevan fell on average by 6% over the year,  while the number of transactions decreased by 16.5%

Prices for apartments in Yerevan fell on average by 6% over the year,  while the number of transactions decreased by 16.5%

ArmInfo. In the first quarter of 2021 in Yerevan, there were 2020 transactions for the purchase and sale of apartments, which is 64.5% of the total number of  transactions for the purchase and sale of apartments in Armenia.  According to the data of the State Committee of the Real Estate  Cadastre, over the year, transactions for the purchase and sale of  apartments in the capital decreased by 16.5%, and over the quarter by  6.5%.

After apartments, the largest number of transactions for the purchase  and sale of real estate in the capital falls on transactions with  garages (11.4%), followed by private houses (11.1%), land (8.4%),  public buildings (7, 1%) and the least interest is real estate of  industrial value (0.9%).  By the number of transactions for the  purchase and sale of apartments in the capital, the administrative  district of Arabkir (19.5%) is in the lead, and traditionally the  lowest percentage (0.1%) falls on Nubarashen.

At the same time, the average market value of real estate in  apartment buildings in Yerevan in the first quarter of 2021 compared  to the same period in 2020 decreased by 6% to 325.9 thousand drams /  1sq.m. on average, with a quarterly decline of 0.7%.

The highest prices for apartments in Yerevan are traditionally held  by the Kentron (Center) community - on average 606.6 thousand AMD /1  sq. m. (annual decline by 8.7%, quarterly - by 1.3%). This is  followed by Arabkir, where the price of apartment blocks is fixed at  435.8 thousand AMD / 1 sq. m. (annual decline by 5.5%, quarterly  decline by 0.8%). Davidashen closes the top three - 314.1 thousand  AMD / 1 sq. m. (annual decline of 9.6%, quarterly decline of 1.5%).

The lowest housing prices in the capital remain in the Nubarashen  community, where a square meter of an apartment averaged 174.7  thousand drams / 1 sq. m., with an annual decline of 7.9%, and a  quarterly decline of 0.3%.

It should be noted that in total, 3,128 transactions for the purchase  and sale of apartments were made in the country, which is 16.2% less  than a year ago, with a decline of 2.6% over the quarter. At the same  time, the largest number of transactions for the purchase and sale of  apartments was registered in Yerevan (64.5%), and, accordingly, the  lowest percentage (1%) in the Vayots Dzor region.

In total, in the republic in the first quarter, there were absolutely  40,949 real estate transactions, which is 5.2% lower than a year ago,  while the number of transactions increased by 12% during the quarter.   According to the data of the State Committee for Real Estate  Cadastre, of the total number of transactions, Yerevan accounts for  29.9% (12,254) of the total number of transactions carried out in the  Republic, with an annual decline of 9.6 and quarterly decline of  0.3%. 

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