Tuesday, May 25 2021 16:54
Karine Melikyan

Real estate market of Armenia is in a state of anticipation in  connection with the upcoming early elections on June 20

Real estate market of Armenia is in a state of anticipation in  connection with the upcoming early elections on June 20

ArmInfo.In the real estate market of Armenia, in April 2021, transactions for the purchase and sale of apartments in the capital decreased by 7.1% with a weak 0.5% rise in  prices. And on a y-o-y basis (compared to April 2020) a 4.7-fold  increase in the number of transactions was accompanied by a 6.2% drop  in apartment prices. This is evidenced by the data of the State  Committee of the Real Estate Cadastre.

ArmInfo analysts believe: " The real estate market of Armenia is in a  state of anticipation in connection with the upcoming early elections  on June 20. Already following their results, a certain long-term  "behavioral" trend will begin to form.

According to cadastral data, in April 877 transactions for the  purchase and sale of apartments were made in Yerevan, or 65.8% of the  total number of such transactions in the country. After apartments,  the largest number of transactions for the purchase and sale of real  estate in the capital falls on transactions with private houses  (11.6%), followed by transactions with garages (11.1%), land (9.7%),  public buildings ( 6%) and the least interest is real estate of  industrial value (0.8%).

By the number of transactions for the purchase and sale of apartments  in the capital, the administrative district of Shengavit is in the  lead (19.4%), and the lowest percentage (2.4%) falls on Avan.

At the same time, the average market value of real estate in  apartment buildings in Yerevan in April 2021 compared to the same  period in 2020 decreased by 6.2% to 327.5 thousand drams / 1 sq. m.  on average, with a monthly growth of 0.5%.

The highest prices for apartments in Yerevan are traditionally held  by the Kentron (Center) community - on average 610 thousand AMD / 1  sq. m. (y-o-y decline by 9%, monthly growth by 0.7%). This is  followed by Arabkir, where the price of apartment blocks is fixed at  440.5 thousand drams / 1 sq. m. (y-o-y decline of 5.3%, monthly  growth of 1%). Kanaker-Zeytun closes the top three - 315.2 thousand  drams / 1 sq. m. (y-o- y  decline of 7.3%, monthly growth of 0.7%).   The lowest housing prices in the capital remain in the Nubarashen  community, where a square meter of an apartment averaged 175 thousand  drams / 1 sq. m., with a y-o-y decline of 8.4%, and unchanged over  the month.  In total, there were 1,332 transactions in the purchase  and sale of apartments in the country in April, which is 4.1-fold  higher than a year ago, with a decline of 5.5% over the month. At the  same time, the largest number of transactions for the purchase and  sale of apartments was registered in Yerevan (65.8%), and,  accordingly, the lowest percentage (0.8%) in the Vayots Dzor region.   In general, there were 16,510 real estate transactions in the  republic in April, which is 5.7-fold higher than a year ago, with a  6% decline over the month, of this total, the largest part of this  falls on Yerevan - 31% or 5,125 transactions, with a 4.3-fold y-o- y  growth, with a decline in April by 8.6%. 


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