TENDENCIES IN REAL ESTATE MARKET IN THE FIRST SIX MONTHS OF 2007
By Ara Martirosian
AZG Armenian Daily
16/08/2007
What tendencies have been recorded in the first six months of 2007,
what is the situation compared with the first and second six months
of last year, what prices have been recorded in June and what may we
expect in the coming months in this market?
All these questions can get their answers from the analyses of Cadastre
State Committee of Real Estate.
According to it, transactions increased in the first six months of
2007 as compared with the first and second six months of 2006.
Alienations gain a large part in transactions – 40 percent, from
which sales and purchases – 87 percent.
The rest are donations and interchanges.
The biggest parts of sales and purchases have the apartments of
residential buildings – 2/3 of a total.
The recorded 7029 transactions are a little more as compared with
the same period of last year. Here a decrease of transactions by 18,5
percent is recorded as compared with the second six months of 2006.
Anyway, the prices of the apartments have been increased in Yerevan
as compared with the first (by 30,6 %) and the second (by 16,1 %)
six months of 2006.
The same situation is in the provinces (marzes) of Armenia – the
prices of the apartments increased here by 48,3 percent as compared
with the same period of the last year, and by 19,8 percent compared
with the second half year of 2006.
The average market price of one square meter of residential
buildings’ apartments in Yerevan made 258 thousand drams in June of
2007: in Center – 454 thousand drams, Arabkir – 372 thousand drams,
Kanaker-Zeytun – 273 thousand drams, Davitashen – 246 thousand drams,
Shengavit – 244 thousand drams, Agapnyak – 237 thousand drams, Nor
Nork – 228 thousand drams, Malatia-Sebastia – 226 thousand drams,
Erebuni – 221 thousand drams, Avan – 217 thousand drams and Nubarashen
– 124 thousand drams.
Out of Yerevan the highest prices have been recorded in Abovian: one
square meter – 145 thousand drams, in Vagharshapat – 126 thousand
drams, Ashtarak – 107 thousand drams, Jermuk – 102 thousand drams
(the prices here increased twice).
2964 transactions on sales and purchases of detached houses were
recorded in the first six months of 2007: 560 in Yerevan. The
transactions decreased by 16,5 percent as compared with the second
six months of 2006, and increased by 15,4 percent compared with the
first six months of 2006.
The average market price of one square meter of 250 square meter
construction and 400 square meter house of a personal plot is the
following in different parts of Yerevan: in Center – 469 thousand
drams (about $1350), Arabkir- 376 thousand drams, Kanaker-Zeytun –
275 thousand drams, Davitashen – 250 thousand drams, Shengavit –
245 thousand drams, Agapnyak – 241 thousand drams, Nork-Marash –
233 thousand drams, Malatia-Sebastia – 229 thousand drams, Erebuni –
225 thousand drams, Avan – 219 thousand drams and Nubarashen – 127
thousand drams.
The most expensive houses are again in Abovian. Here the average
market price of one square meter of 200 square meter construction
and 1000 square meter personal plot is 149 thousand drams. Then comes
Vagharshapat – 130 thousand drams, Tsaghkadzor – 127 thousand drams,
Ashtarak – 109 thousand drams and Nor Hachn – 104 thousand drams.