Over 159,000 deals effected in Armenia’s real estate sector

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Economy

31.01.2009, 01:56

Armenia saw 2.8% year-on-year rise in real estate business (159,367 deals) in 2008, the RA State Committee for Real Estate Cadastre says in its annual report.

YEREVAN, January 30. /ARKA/. Armenia saw 2.8% year-on-year rise in real estate business (159,367 deals) in 2008, the RA State Committee for Real Estate Cadastre says in its annual report.

Real estate business in Armenia’s regions rose 7.7% (7,387 deals) last year, while Yerevan saw 5.1% decline in real estate services (3,060 deals) during the same period.

Real estate business reached the highest peak in July 2008 with 14,900 deals effected. The most passive period for the business was January (9,145 deals).

According to the Committee, 30.6% of total transactions in the sector concerned apartments in multistory buildings, with 35.4% of the deals being effected in Yerevan (34.3% were property alienation deals).

In January-December 2008, 35.4% of real estate businesses were effected in Yerevan with 2.3% in Vayots-Dzor.

During the same period, 13% of property transactions were effected in Kotayk region, 8.6% in Aragatsotn, 7.7% in Armavir, 7.2% in Lori, 7% in Aragatsotn, 5.8% in Shirak, 4.8% in Syunik, 4.5% in Gegharkunik and 3.7% in Tavoush. –0--

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