ArmInfo.The average market value of real estate of apartment buildings in Yerevan was 457.3 thousand drams/1 sq.m., in Q1 2024, 12.9% higher than the year-ago figure, 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 - on average 901.8 thousand drams/1 sq.m. (y-o-y growth of 13.3%). Next comes Arabkir, where the price for apartment buildings is fixed at 637.3 thousand drams/1 sq.m. (y-o-y growth of 14.6%). Davitashen closes the Top-3- 469.3 thousand drams/1 sq.m. (y-o-y growth of 15.6%).
The lowest housing prices in the capital remain in the Nubarashen community, where a square meter of apartment averaged 227.6 thousand drams/1 sq.m., with a y-o-y increase of 10.5%.
At the same time, 4,294 transactions for the purchase and sale of real estate were completed , in Yerevan, in Q1 2024, 42.3% higher than a year ago.
The lion's share of purchase and sale transactions in the capital falls on apartments (60.1%) - during the reporting period, 2,582 transactions were completed, with a y-o-y growth of 39.8%. This is followed by transactions with garages - 872 or 20.3% (2.5-fold y-o-y growth), private houses - 289 or 6.7% (y-o-y decline by 11.3%), public buildings - 275 or 6.4 % (y-o-y growth by 31.6%), land - 242 or 5.6% (y-o-y decline by 7.3%), buildings of industrial value - 34 or 0.8% (y-o-y growth by 21.4%).
According to the source, during the reporting period, 2,479 real estate rental transactions were registered in the capital, 45.9% higher than a year ago.
In total, 16,694 real estate transactions were completed in Yerevan during the reporting period (with a y-o-y growth of 26.3%), which is 28.9% of the total number of real estate transactions completed in the Republic. Notably, in Q1 2023, the average market value of real estate in apartment buildings in Yerevan increased by 10.6% year on year. At the same time, the number of transactions for the purchase and sale of apartments in the capital decreased by 27.7% per annum. Meanwhile the number of real estate rental transactions in Yerevan, on the contrary, increased by 21.3% per annum.
