Real Estate Market Activated
According to the report issued by State Committee of Real Estate Cadastre of the Republic of Armenia, real estate market of Armenia activated, real estate transactions increased, but property prices dropped.
In May 2011 in Armenia were carried out 16.643 thousand real estate transactions. Compared to the previous month this index increased by 2 percent and compared to the same month last year by 23.1 percent. According to report on the first place is Yerevan with 32.3 percent transactions, the second is Kotayk with 15 percent, and the third is Lori with 8.2 percent.
As reported by research, in May 2011 were carried out 4.065 thousand alienation transactions, 79.6 percent of which were sale transactions, 19.5 percent were donations and 1 percent was exchange. Compared to the previous month the index of alienation transactions increased by 1.5 and compared to the same month last year by 21.7 percent.
As noted in report, in May 2011 in Yerevan 66.2 percent of sales transactions were recorded in residential buildings. This index compared to the previous month dropped by 3.9 percent, and increased by 30.4 percent compared to the same month last year.
The report also contains the property average prices both in administrative regions of Yerevan and in the other cities of Armenia. In Yerevan the highest prices were in Kentron - 1 square meter costs US$ 1,170 , on the second place was Arabkir - US$ 900 for 1 square meter, and the third place took Qanaqer-Zeytun with US$ 710 respectively. In the capital the lowest price for houses was in Nubarashen - US$ 380 for 1 square meter. In May 2011 in regions were sold 315 apartments. Compared to the previous month this index increased by 1.3 percent, and compared to the same month last year by 14.4 percent. The most expensive property in regions was in cities Vagharshapat with average price US$ 435 for 1 square meter and in Abovyan - US$ 425.
According to the report, in May 2011 were registered about 211 mortgage loans, 141 of them in the capital. Compared to the previous month this figure dropped by 2.3 percent, including the capital drop by 17.5 percent, and in the regions increase by 55,6 percent. Compared to the same month last year this figure increased by 37 percent, including 22.6 percent increase in Yerevan and 79.5 percent increase in regions. In region this great increase probably depends on government program "affordable housing for youth".
As reported by research, in May 2011 were carried out 4.065 thousand alienation transactions, 79.6 percent of which were sale transactions, 19.5 percent were donations and 1 percent was exchange. Compared to the previous month the index of alienation transactions increased by 1.5 and compared to the same month last year by 21.7 percent.
As noted in report, in May 2011 in Yerevan 66.2 percent of sales transactions were recorded in residential buildings. This index compared to the previous month dropped by 3.9 percent, and increased by 30.4 percent compared to the same month last year.
The report also contains the property average prices both in administrative regions of Yerevan and in the other cities of Armenia. In Yerevan the highest prices were in Kentron - 1 square meter costs US$ 1,170 , on the second place was Arabkir - US$ 900 for 1 square meter, and the third place took Qanaqer-Zeytun with US$ 710 respectively. In the capital the lowest price for houses was in Nubarashen - US$ 380 for 1 square meter. In May 2011 in regions were sold 315 apartments. Compared to the previous month this index increased by 1.3 percent, and compared to the same month last year by 14.4 percent. The most expensive property in regions was in cities Vagharshapat with average price US$ 435 for 1 square meter and in Abovyan - US$ 425.
According to the report, in May 2011 were registered about 211 mortgage loans, 141 of them in the capital. Compared to the previous month this figure dropped by 2.3 percent, including the capital drop by 17.5 percent, and in the regions increase by 55,6 percent. Compared to the same month last year this figure increased by 37 percent, including 22.6 percent increase in Yerevan and 79.5 percent increase in regions. In region this great increase probably depends on government program "affordable housing for youth".
