Real Estate Market In A Marsh


Story from News:

Published: 16:07:37 – 03/07/2012

Pastinfo Agency studied the situation in the real estate market
in Yerevan.

Head of Gug real estate agency Iskuhi Melikyan says nothing has
changed this year in the market. “We’re not doing well this year,
prices did not drop,” she says.

Prices remain at the same level but the number of transactions fell,
says Nran real estate agency. According to its manager, dropping number
of transactions is due to dollar rate fluctuations. According to him,
the residents of the center of Yerevan sell their apartments to buy
apartments on the suburbs.

The head of the National Union of Employers of Armenia Gagik Makaryan
says the real estate market is in a marsh and transactions are frozen.

He says they hoped for investments from Iran and Syria but they
preferred investing in Europe.

The RoA State Cadastre confirmed lack of positive change in the real
estate market this year.

The number of transactions in 2012 April decreased by 16.9% against
the same month last year. The number of sold apartments in April 2012
decreased by 17.6% against the same months last year.

From: A. Papazian

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