ArmInfo. At the end of 2023, the average market value of real estate in apartment buildings in Yerevan increased by 10.3% year-on-year, amounting to 425.3thousand AMD/1 sq.m. According to data from the State Committee of the Real Estate Cadastre of the Republic of Armenia, the highest prices for apartments in Yerevan are traditionally held by the Kentron (Center) community - on average 837.7 thousand AMD/1 sq.m. (y-o-y growth of 13.5%).
Followed by Arabkir, where the price for apartment buildings is fixed at 587.8 thousand AMD/1 sq.m. (y-o-y growth of 12.6%). Davitashen closes the TOP-3 - 428.3 thousand AMD/1 sq.m. (y-o-y growth of 11.9%). The lowest housing prices in the capital remain in the Nubarashen community, where a square meter of apartment averaged 214.2 thousand AMD/1 sq.m., with a y-o-y increase of 6.5%.
At the same time, in 2023, transactions for the purchase and sale of apartments in the capital decreased significantly - by 29.6% to 8,073. A decrease was also registered in transactions for the purchase and sale of private houses - by 27.2% to 1,472, land - by 9.7% to 1,148, public buildings - by 12.9% to 965 and industrial buildings - by 27.4% to 138. Growth was recorded in the purchase and sale of garages alone - by 2.3% to 1,717.
In total, 13,513 transactions for the purchase and sale of real estate were concluded in Yerevan during the reporting period (a y-o-y decline of 23.8%), which constitutes 22.3% of the total volume of transactions completed in the capital. According to cadastral data, the share of real estate rental transactions in the capital accounts for 11.4% or 6,893 transactions, which is 15.7% higher than a year ago.
The lion's share of rental transactions falls on public buildings (70%), which grew by 39.1% year-on-year, followed closely by apartments - 9.9% (a y-o-y decline of 23.9%), land plots - 8. 3% (y-o-y decline of 21.7%), industrial buildings - 7.9% (y-o-y decline of 3.4%), private houses - 2.7% (y-o-y decline of 25.8%) and garages - 1.1% (y-o-y growth of 92.9%).
In total, 219,628 real estate transactions were completed in Armenia in 2023, which exceeded the year-ago figure by 7.2%.
