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.
