Armenian real estate market has registered a 40% decrease in 2009

April 30, 2009 - 18:09 AMT
PanARMENIAN.Net - According to RA Real Estate State Cadastre Committee report, in the first quarter of 2009, 28 542 real estate deals were registered in Armenia, decreasing by 31.4% compared with last quarter of 2008 and by 18.6% compared with the first quarter of 2008.



Real estate deals were allocated as follows in RA regions: Yerevan (35% of total deals), Lori (10.3%), Kotayk (10.1%), Ararat (9,9%), Shirak (7.2%), Aragatsotn (5,1%), Syunik (4,9%), Gegharkunik (4.7%), Tavush (4,2%) and Vayots Dzor (1,7%).



Among 7 921 deals on property disposal, sale and purchase deals comprised 74.7%, deed of gift deals- 24%, real estate exchange deals-1.3%, with 32.9% of property disposal deals registered in Yerevan.



In the first quarter of 2009, apartments' sale and purchase deals decreased by 40% compared with the last quarter of 2008.

Despite major decrease in deals' number, a slump in apartments price was insignificant.



In 2009 the average real estate price comprised AMD 280 600 per square meter, which is 2% lower than in 2008, totaling AMD 286 200.

A slump in mansions purchase and sale was also registered in the first quarter of 2009: 32% throughout Armenia, 1360 deals against 2002 deals in the same period of 2008, 38% decrease in Yerevan 288 against last year's 464.
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