Real estate still in demand in Armenia
"Real estate is still in demand in Armenia," International Monetary Fund representative in Armenia, Nienke Oomes stated. "Lots of people in Armenia wish to have good accommodation," she stated.
At the same time, other spheres of economy also need developing, as RA economy was too dependent on construction sphere.
According to Oomes, real estate sector in rather unstable, with purchase and sale depending on real estate price fluctuations.
RA economy has registered some tendencies towards restoration, which is proved by July 2009's moderate price growth for construction works. In this context, Oomes added that currently construction share in GDP is fixed at 14,1%, while during the first 7 months of 2009 it comprised 18,5%.
At the same time, other spheres of economy also need developing, as RA economy was too dependent on construction sphere.
According to Oomes, real estate sector in rather unstable, with purchase and sale depending on real estate price fluctuations.
RA economy has registered some tendencies towards restoration, which is proved by July 2009's moderate price growth for construction works. In this context, Oomes added that currently construction share in GDP is fixed at 14,1%, while during the first 7 months of 2009 it comprised 18,5%.
