REAL ESTATE IN YEREVAN BECOMES CHEAPER BY OVER 9%

Mediamax
Aug 3, 2011
Armenia

In June 2011, market average prices for apartments in apartment
buildings in Yerevan became cheaper by 9,26% against the same period
of 2010, making AMD 256 800 ($686) for 1 square meter.

Mediamax reports quoting the data of the State Committee of the
Real Estate Cadastre that the decline in prices for apartments in
comparison with June 2010 was registered in all communities of the
capital except for Nubarashen, where the prices are traditionally
the lowest in Yerevan (AMD 148 700 for 1 square meter - growth 0,6%).

In Kentron central community prices for apartments in June fell by
7,76% (AMD 37 100) making AMD 441 000 for 1 square meter.

Prices for private houses also fell in June 2011 against the same
period of last year, making AMD 273 400 for 1 square meter.

16 954 real estate deals have been concluded in the republic in 2011,
25,1% out of which were selling deals.