Armenian real estate market records slower price growth in December 2024 - Ministry of Finance

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Economy

04.02.2025, 11:42

Prices in Armenia's real estate market continued to rise in December 2024, although the growth rate slowed compared to November. This is stated in the report "Review of Macroeconomic Developments: December 2024" by the Ministry of Finance of the Republic of Armenia.

Armenian real estate market records slower price growth in December 2024 - Ministry of Finance

YEREVAN, February 4. /ARKA/. Prices in Armenia's real estate market continued to rise in December 2024, although the growth rate slowed compared to November. This is stated in the report "Review of Macroeconomic Developments: December 2024" by the Ministry of Finance of the Republic of Armenia.

It is noted that the growth of average market prices for apartments in multi-apartment buildings in Yerevan, compared to November, varied by administrative district, ranging from a decrease of 0.8% to an increase of 0.7%. Compared to December of the previous year, the change ranged from 1% to 6.9%.

The highest prices were recorded in Kentron District (909,100 AMD per square meter, a decrease of 0.2% compared to November, an increase of 1.2% compared to December 2023), while the lowest prices were in Nubarashen (236,500 AMD per square meter, an increase of 0.6% compared to November, and a rise of 4.6% compared to December of the previous year).

In the regions, the increase in average market prices for apartments compared to November 2024 ranged from a decrease of 1.5% to an increase of 5.4%, and compared to December 2023, the range was from a decrease of 2.1% to an increase of 23.6%.

The highest prices were recorded in the city of Tsaghkadzor, Kotayk region (455,000 AMD per square meter, a monthly decrease of 0.7%, with an annual growth of 4.6%), and the lowest prices were in the city of Tumanyan, Lori region (27,500 AMD per square meter, with no monthly change and an annual growth of 5.8%). ($1 = 396.99 AMD)

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