4.1% rise in housing prices in Yerevan in first half of 2024

ArmInfo. Average market value of  real estate in apartment buildings in Yerevan in the first half of  2024. amounted to 458.1 thousand drams/1 sq.m., with annual and semi-  annual growth of 11.4% and 4.2%, respectively. This is evidenced by  data from the State Committee of the Real Estate Cadastre of Armenia.

According to cadastral data, the Kentron (Center) community  traditionally holds the highest prices for apartments in Yerevan - an  average of 905 thousand drams/1 sq.m. (annual growth by 12.2%, for  the first half of the year - by 4.2%). Next comes Arabkir, where the  price of apartment buildings is fixed at 635.9 thousand drams/1 sq.m.  (annual growth by 12.6%, for the first half of the year - by 4.1%).  Davitashen closes the top three - 470 thousand drams/1 sq.m. (annual  growth by 14%, for the first half of the year - by 5.8%).

The lowest housing prices in the capital remain in the Nubarashen  community, where a square meter of apartment averaged 227.2 thousand  drams/1 sq.m., with an annual increase of 9.2%, and for the first  half of the year - by 3.1%.

At the same time, for the first half of this year. In Yerevan, 7,820  real estate purchase and sale transactions were completed, which is  21.7% higher than a year ago, with an increase of 10.3% over the past  six months.

The lion's share of real estate purchase and sale transactions in the  capital falls on apartments - 59.7% or 4,674, with an annual growth  of 21.1% (with an increase of 11% over the past six months). This is  followed by transactions with garages - 18.7% or 1,466 (an annual  increase of 2 times, with a six-month increase of 48.5%); private  houses - 7.9% or 619 (an annual decline of 16.2%, with a six-month  decline of 15.6%); buildings of public importance - 6.6% or 519  (annual growth by 12.6%, with a six-month growth of 3%); earth - 6.1%  or 479 (annual decline of 16%, with a six-month decline of 17.1%);  buildings of industrial value - 0.8% or 63 (an annual decline of  3.1%, with a decline of 13.7% over six months).

According to the source, during the reporting period, 4,273 real  estate rental transactions were registered in the capital, which is  24.7% higher than a year ago and an increase of 23.3% over the past  six months.

In total, 32,658 real estate transactions were completed in Yerevan  during the reporting period (with an annual growth of 14.8%, and an  increase of 2% over the half-year), which constitutes 27.1% of the  total number of real estate transactions completed in Armenia.