Cadastre: Along with 9.4% increase of apartment prices in capital  over year, sale-purchase transactions decreased by 21.6%, and rental  transactions increased by 15.1%

ArmInfo.Average market value of real estate in apartment buildings in Yerevan amounted to  429.2 thousand AMD/1 sq.m. in Q3 2023, which is 9.4% higher than the year-ago figure, with a quarterly increase of 3%, according to the data from the State Real Estate Cadastre Committee.

According to cadastral data, the Kentron (Center) community  traditionally holds the highest prices for apartments in Yerevan - an  average of 844.6 thousand AMD/1 sq.m. (y-o-y growth by 13.2%,  quarterly growth by 3.3%). Followed by Arabkir, where the price for  apartment buildings is fixed at 594.6 thousand AMD/1 sq.m. (y-o-y  growth by 12.1%, quarterly growth by 3.7%). Davitashen closes the  TOP-3 - 432.7 thousand AMD/1 sq.m. (y-o-y growth by 10.6%, quarterly  growth by 3.4%).

The lowest housing prices in the capital remain in the Nubarashen  community, where a square meter of apartment averaged 216.2 thousand  AMD/1 sq.m., with a y-o-y increase of 5.3%, and a quarterly increase  of 2.9%.

At the same time, 3,477 purchase and sale transactions were completed  in Yerevan for Q3 2023, which is 15.9% lower than the year-ago  figure, with an increase of 2% over the quarter.

The lion's share of real estate purchase and sale transactions in the  capital accounts for apartments. In particular, during the reporting  period, 2,180 transactions for the purchase and sale of apartments  were completed, with a y-o-y decrease of 21.6%, with a quarterly  increase of 8.3%. This is followed by transactions with garages - 399  (y-o-y growth by 13%, quarterly - by 3.9%), private houses - 359  (y-o-y decline by 2.6%, quarterly - by 13.1%), land - 261 (y-o-y  growth by 16.5%, quarterly decline - by 15.5%), public buildings -  241 (y-o-y decline by 0.8%, quarterly decline - by 4.4%), industrial  buildings - 37 (y-o-y decline by 26 %, with quarterly unchanged).

According to cadastral data, 1,529 real estate rental transactions  were registered in the capital in Q3, which is 15.1% higher than a  year ago, with a quarterly decrease of 11.5%.

In total, 15,236 real estate transactions were completed in Yerevan  during the reporting period (a decline of 6.9% for the year, an  increase of 0.1% for the quarter), which is 28% of the total number  of real estate transactions completed in Armenia.