ARMENIAN REAL ESTATE MARKET HAS REGISTERED A 40% DECREASE IN 2009

PanARMENIAN.Net
30.04.2009 17:09 GMT+04:00

/PanARMENIAN.Net/ According to RA Real Estate State Cadastre Committee
report, in the first quarter of 2009, 28 542 real estate deals were
registered in Armenia, decreasing by 31.4% compared with last quarter
of 2008 and by 18.6% compared with the first quarter of 2008.

Real estate deals were allocated as follows in RA regions: Yerevan
(35% of total deals), Lori (10.3%), Kotayk (10.1%), Ararat (9,9%),
Shirak (7.2%), Aragatsotn (5,1%), Syunik (4,9%), Gegharkunik (4.7%),
Tavush (4,2%) and Vayots Dzor (1,7%).

Among 7 921 deals on property disposal, sale and purchase deals
comprised 74.7%, deed of gift deals- 24%, real estate exchange
deals-1.3%, with 32.9% of property disposal deals registered in
Yerevan.

In the first quarter of 2009, apartments' sale and purchase deals
decreased by 40% compared with the last quarter of 2008.

Despite major decrease in deals' number, a slump in apartments price
was insignificant.

In 2009 the average real estate price comprised AMD 280 600 per square
meter, which is 2% lower than in 2008, totaling AMD 286 200.

A slump in mansions purchase and sale was also registered in the
first quarter of 2009: 32% throughout Armenia, 1360 deals against
2002 deals in the same period of 2008, 38% decrease in Yerevan 288
against last year's 464.