According to the report issued by State Committee of Real Estate Cadastre of the Republic of Armenia, compared to the last month real estate market of Yerevan get activated. In June 2011 in Yerevan were carried out 4.260 thousand real estate transactions. Compared to the previous month this index increased by 4,8 and compared to the same month last year by 6,8 percent. In contrast to that increase real estate average prices in the capital dropped by 9 percent (June 2010-$US755/ June 2011- $US685). On annual basis real estate prices significantly dropped, but the purchase considerably activated. At a stable economic growth, this fact may lead to a gradual increase in property prices. But today, as prices continue to go down and there is no attractiveness for profitable real estate investment, Yerevan property prices reach the non-speculative equilibrium state. It should be noted, that on an annual basis the largest decline in prices was observed in Arabkir- by 13.5 percent ($US1053/$US912), but the prices in the cheapest district of Yerevan, Nubarashen have even grew up by 0.3 percent ($US394/$US397).

For the first time in Armenia - Real Estate and Construction Forum. Closed event, entrance by invitation only. Real estate and construction sectors under one roof. Construction companies Architectural Offices Suppliers of building materials Construction Equipment Suppliers Banking system Relevant structures of the municipality 12 speeches, 150 guests, 80 companies. Please call for details: 094650006, 094650096.

On September 10 took place the solemn opening ceremony of the multifunctional block of flats built at Tsitsernakaberdi 1/2 in the capital. On the basis of the suggestions made by the special inter-departmental commission formed on the instruction of the RA President Serzh Sargsyan, within the scope of the RA Government decree 342-A, dated 04.04.2013, apartments in the newly-built block of flats have been allocated to the families whose purchased homes were lost as a result of the failure of construction carried out by a private developer at the address Arami 72-80 in Yerevan. The honor of opening was given to Yerevan Mayor Taron Margaryan and the director of new building developer company "D and H group"Vahe Petrosyan. It should be noted that a criminal case was launched by the Department of state interest defense of the RA Chief Prosecutor's Office in December 2011 concerning the case of grabbing big amounts by cheating and abusing confidence of the residents in 2005-2011. The developer of the failed building was "Gapbnakshin" Ltd. The total area of the building at Arami 72-80 was about 21 thousand square meters, but the developer sold 53 thousand square meters. One apartment in the building at Arami 72-80 was sold to 8 buyers! As a result of all machinations 476 families became the victims of dishonesty losing big amounts. The citizens had to turn to the President of the Republic expecting the state help in this issue. As a result the President instructed to form a special inter-departmental commission in March, 2012. Taking into account that the problem referred to 476 families it was vital to find a non-standard solution. A part of the citizens suffered the dishonesty were given apartments in this building at Tsitsernakaberdi 1/2 address, the other part was allocated flats in the building at Arami street. So the problem got a complete solution. The building built in accordance with all necessary standards and provided with all conveniences. The surrounding area of the complex with total area of 65 thousand square meters was completely improved: benches, dustbins, bowers, children's playground was constructed at this area. Today 476 families have got apartments, but there are still many who believe, that their housing problems also should be solved in the near future. Still many defrauded families did not received compensation for expropriated land and apartments located on the street Byuzand, district Kond and some other problematic developments. During the grand opening ceremony mayor of Yerevan told that all deceived residents will receive new houses. Committee on these issues now is considering what model to choose for solving the problem and how to find new investors.