Home prices down in Armenia by 3.2 percent
22.01.2018,
15:20
Home prices in Armenia dropped by 3.2% over the past year, Ara Aduryan, the head of Oliver Group housing appraisal company, told journalists on Monday.
YEREVAN, January 22. /ARKA/. Home prices in Armenia dropped by 3.2% over the past year, Ara Aduryan, the head of Oliver Group housing appraisal company, told journalists on Monday. According to him, the real estate market in 2017 showed a stable dynamics, resulting in an increase in the number of registered home sales and purchases deals.
He said more than 46,300 real estate deals were registered in the country last year, the bulk of which - about 75% - were home sales and purchases and 15% were primary registration of housing. In the capital city Yerevan 14,000 real estate deals were made, of which about 70% were transactions with apartments, by 20% more than in 2016, according to Aduryan.
Real estate prices in Armenia declined last year by 3.5% from the year before, while the average price for 1 square meter of housing in the capital was 265,000 drams, down from 275,000 drams in 2016 with the highest price reaching 450,000 drams.
According to Aduryan, the growth was boosted by a variety of mortgage programs, offered by local banks. In particular, the number of real estate transactions as part of mortgage programs increased by almost 80% on the national scale and more than doubled in Yerevan.
As for the provinces, the number of transactions with apartments increased last year by only 10%, and prices decreased by 5%. As for privately-owned houses, the number of deals is growing, but prices have not declined due to the fact that many prefer to build homes "from scratch." ($ 1 - 481.96 drams). --0--
He said more than 46,300 real estate deals were registered in the country last year, the bulk of which - about 75% - were home sales and purchases and 15% were primary registration of housing. In the capital city Yerevan 14,000 real estate deals were made, of which about 70% were transactions with apartments, by 20% more than in 2016, according to Aduryan.
Real estate prices in Armenia declined last year by 3.5% from the year before, while the average price for 1 square meter of housing in the capital was 265,000 drams, down from 275,000 drams in 2016 with the highest price reaching 450,000 drams.
According to Aduryan, the growth was boosted by a variety of mortgage programs, offered by local banks. In particular, the number of real estate transactions as part of mortgage programs increased by almost 80% on the national scale and more than doubled in Yerevan.
As for the provinces, the number of transactions with apartments increased last year by only 10%, and prices decreased by 5%. As for privately-owned houses, the number of deals is growing, but prices have not declined due to the fact that many prefer to build homes "from scratch." ($ 1 - 481.96 drams). --0--
