Home prices in Armenia expected to rise by 15% in 2019
03.08.2018,
15:22
If current trends in Armenia’s real estate market persist, home prices will see a 15% rise in 2019, the head of the Akcern real estate company Hakob Baghdasaryan said at a press conference on Friday.
YEREVAN, August 3. /ARKA/. If current trends in Armenia’s real estate market persist, home prices will see a 15% rise in 2019, the head of the Akcern real estate company Hakob Baghdasaryan said at a press conference on Friday.
According to Baghdasaryan, the possibility of purchasing housing in new buildings, when mortgage loan interest is paid at the expense of income tax is an important factor in the real estate market.
"Even if some families do not have housing problem, they have a motivation to use banking services to buy housing to avoid tax losses," he said. Baghdasaryan notes that the Armenian real estate market is gradually reorienting towards the primary housing market.
He noted that the confidence in primary housing market began to increase when the buildings began to be commissioned in a timely manner.
"Only the price factor may force the buyer to abandon the primary market in favor of the secondary market," Baghdasaryan said.
In the first half of 2018, the highest market price of one square meter of living space in multi-apartment buildings was in the capital's administrative district Kentron - 504,000 drams, and the lowest was in the Nubarashen district- 156,900 drams.
In the regions, the highest price per square meter of housing was in Tsakhkadzor (280,400 drams), and the lowest in Dastakert community in Syunik province - 22,200 drams. ($ 1 - 481.16 drams). -0-
According to Baghdasaryan, the possibility of purchasing housing in new buildings, when mortgage loan interest is paid at the expense of income tax is an important factor in the real estate market.
"Even if some families do not have housing problem, they have a motivation to use banking services to buy housing to avoid tax losses," he said. Baghdasaryan notes that the Armenian real estate market is gradually reorienting towards the primary housing market.
He noted that the confidence in primary housing market began to increase when the buildings began to be commissioned in a timely manner.
"Only the price factor may force the buyer to abandon the primary market in favor of the secondary market," Baghdasaryan said.
In the first half of 2018, the highest market price of one square meter of living space in multi-apartment buildings was in the capital's administrative district Kentron - 504,000 drams, and the lowest was in the Nubarashen district- 156,900 drams.
In the regions, the highest price per square meter of housing was in Tsakhkadzor (280,400 drams), and the lowest in Dastakert community in Syunik province - 22,200 drams. ($ 1 - 481.16 drams). -0-
