Demand for agricultural land continues to be in high in Armenia

ArmInfo.In the regions of Armenia, in April 2021, 3,088 real estate purchase and sale transactions were carried out (or 68.2% of the total number of such transactions in the  republic).

On a y-o-y basis, regional transactions for the purchase  and sale of real estate increased 4.7-fold, but in April they  decreased by 8.4%. According to the data of the State Committee of  the RA Real Estate Cadastre, of the total number of regional  transactions for the sale of real estate, the largest percentage  (60.6% or 1872 transactions), as before, fell on land with a total  area of 939.16 hectares, of which 838.98 hectares are agricultural  land (1 085 trades).

According to cadastral data, on a y-o-y basis (April 2021 to April  2020), the number of regional transactions for the sale and purchase  of land increased 5.1-fold, but decreased by 8.1% over the month. In  the total number of republican transactions for the purchase and sale  of real estate, the preference for land is also high - 44.4%.

In the total number of regional land purchase and sale transactions,  the maximum was recorded in the Kotayk region - 501 transactions or  26.8% of the total, and the minimum in Gegharkunik region - 47  transactions or 2.5%. But in terms of the area of land sold, Armavir  region is in the lead - 273.72 hectares, incl. 257.25 hectares -  agricultural land.

162.38 hectares of land sold in the regions were in state or common  ownership, and 776.78 hectares were in private ownership. The area of  land leased in the regions was 270.86 hectares, incl. 250.77 hectares  are agricultural land.

The second largest in terms of number in the regions are transactions  for the purchase and sale of private houses (15.9%), followed by a  small margin of transactions with apartments (14.7%). Garage purchase  and sale transactions are quite small- 3.8%, public and industrial  buildings - 3.5% and 1.3%, respectively.

According to the source, in the regions of Armenia in April 494  transactions for the purchase and sale of private houses and 455  transactions for the purchase and sale of apartments were carried  out, and in both cases, a y-o-y 4.5-3.4-fold increase was recorded,  with a decline of 12.4-2.2%.

At the same time, the average market value of apartments in the  regions of Armenia decreased in April 2021 compared to April 2020 by  4.4%, with an increase of 0.3% per month, amounting to an average of  95.4 thousand AMD / 1 sq. m. The y-o-y increase in apartment prices  in regional high-rise buildings was recorded in the reporting period  only in the cities of Ashtarak, Artashat, Vedi, Ararat, Vagharshapat,  Abovyan, Byureghavan, Hrazdan, Gyumri - within 0.7-5%. At the same  time, in other cities, there was a more significant decline in  apartment prices - with a maximum of 19.9% in Chambarak, 16.7% in  Tumanyan, 15% in Gavar, 14.7% in Stepanavan, 10.4-13.7% - in Sisian,  Meghri, Noyemberyan, Ayrum, Yeghegnadzor, Berd, Tashir, Vardenis.

The maximum average market cost of regional apartments in Armenia is  traditionally fixed in Kotayk region - 145.1 thousand drams / 1  sq.m., and the minimum in Lori region - 54 thousand drams / 1 sq.m.  On an annualized basis (April 2021 to April 2020), the cost of Kotayk  apartments decreased by 0.1%, and Lori apartments - by 8.6%, but only  in the reporting month in both cases there was an increase of 0.6%.

According to cadastral data, the highest prices for apartments in the  regions are traditionally held in the resort town of Tsaghkadzor -  283 thousand AMD / 1 sq. m. on average, with aq y-o-y decline of 0.6%  (with a monthly growth of 0.1%). This is followed by the city of  Abovyan, where the price of apartments was fixed at the level of  195.3 thousand drams / 1 sq. m., with a y-o-y growth of 5%, with a  monthly growth of 0.9%. And the top three is closed by the city of  Vagharshapat with the cost per square meter of an apartment at 162.3  thousand drams, with a y-o-y growth of 2.7%, and a monthly growth of  0.5%.

The lowest prices were recorded in the city of Tumanyan (Lori region)  - 20 thousand drams / 1 sq. m. (with a y-o-y decline of 16.7%, with  no change over the month). This is followed by the city of Chambarak  (Gegharkunik region) - 36.05 thousand drams / 1 sq. m. (with a y-o-y  decline of 19.9%, and a monthly growth of 1.5%) and Akhtala city  (Lori region) - 37 thousand drams / 1 sq. m. (with a y-o-y decline of  6.3% with a monthly growth of 1.4%).