Average Monthly Rent of Tenements in Yerevan up 2% Jan-Nov 2004

IN JANUARY-NOVEMBER, 2004, AVERAGE NONTHLY PRICE INCREASE OF
TENEMENT-HOUSES IN YEREVAN MADE 2%
YEREVAN, January 5 (Noyan Tapan). In January-November, 2004, 9,165
transactions with respect to real estate were implemented in Armenia,
which exceeds by 30.4% the index for the same period in 2003.
According to the information provided to NT by Information Service of
the Real Estate Land-Survey State Committee, sales and purchases made
89.3%, donations – 10.4%, and exchanges – 0.3% of the 3,729 alienation
transactions with respect to real estate. In January-November, 2004,
the number of real estate alienation transactions grew by 18.9% as
compared to the same period of 2003. 42.7% of real estate alienation
transactions was implemented in Yerevan, 43.7% of which – with respect
to tenement-houses’ apartments. In November, 2004, 62.9% of the 1.332
real estate sale and purchase transactions registered in Yerevan were
those implemented with respect to tenement-houses, which decreased by
4.1% as compared with the same period of 2003 and by 5.4% as compared
with October, 2004. In January-November, 2004, the minimum and maximum
prices of 1 square meter of tenement-houses’ apartments in Yerevan
communities made: in the center (except for the Northern Avenue) –
$350-970, in Arabkir – $250-560, in Kanaker-Zeytun – $130-330, in
New-Nork – $115-250, in Avan – $120-230, in Erebuni – $120-300, in
Shengavit – $120-270, in Davidashen – $130-350, in Ajapniak – $120-300
and in Nubarashen – $70-120. In January-November, 2004, the monthly
increase in an average market price of 1 square meter of
tenement-houses’ apartments in Yerevan made 2%.