Thursday, September 10 2020 14:22

ArmInfo.The average market value of real estate in apartment buildings in Yerevan in July 2020 compared to July 2019 increased by 7.1% (to 336.3 thousand drams  / 1 sq. m. on average). Moreover, the rise in prices was accompanied  by a decrease in the number of transactions by 16.4%. This is  evidenced by the data of the RA Real Estate Cadastre State Committee.

According to the agency's data, a much more contradictory situation  developed in July - prices for apartments in the capital somewhat  "declined", by 1.7%, but the number of transactions increased sharply  - by 42.1%, which may indicate a significant increase in supply and  restrained demand.

The highest prices for apartments in Yerevan are traditionally in the  Kentron (Center) community - on average 645 thousand AMD / 1 sq. m.  (6.6% y-o-y growth, 2.6% monthly decline). Then comes Arabkir, where  the price of apartment blocks is fixed at 450 thousand AMD / 1 sq. m.  (9.2% y-o-y growth, 2.2% monthly decline). Davidashen closes the top  three - 333 thousand drams / 1 sq. m. (4.6% y-o-y growth, 2.1%  monthly decline).  The lowest housing prices in the capital remain in  the Nubarashen community, where a square meter of an apartment  averaged 181 thousand drams / 1 sq. m., with a y-o-y growth of 2.8%,  and a decline in July by 1.6%.

It should be noted that the y-o-y growth in prices for apartments in  the capital was recorded in all communities, while the monthly trend,  as noted above, is moderately downward. In particular, in Kanaker-  Zeytun - prices increased by 6.9% year-on-year to 326 thousand drams  (with a monthly decline of 1.5%), Nor-Nork - by 8.8% to 290.1  thousand drams / 1sq .m. (with a monthly decline of 1%), Erebuni - by  6.1% to 286 thousand AMD / 1sq.m. (with a monthly decline of 1.4%),  Shengavit - by 7.9% to 297 thousand drams / 1 sq. m. (with a monthly  decline of 1%), Ajapnyak - by 8.4% to 310 thousand AMD / 1 sq. m.   (with a monthly decline of 1.2%), Malatia-Sebastia - by 7.9% to 287.2  thousand AMD / 1 sq. m. (with a monthly decline of 1.3%) and Avan -  by 7.9% to 294 thousand drams / 1 sq. m. (with a monthly decline of  1.3%).

According to the State Committee, a total of 1,235 transactions for  the purchase and sale of apartments were carried out in Armenia in  July 2020, of which the lion's share (66.4%) fell on Yerevan with a  y-o-y decline of 12.4%, with a monthly growth of 62.4 %. At the same  time, the largest number of purchase and sale transactions was made  in the administrative region of Arabkir (16.8%) and the smallest in  Nubarashen - 1%.

At the same time, 153 apartment rental transactions were carried out  in the country in July 2020, which is 77.9% more than a year ago,  with a monthly growth of 14.2%. Most of these transactions (60.1%)  were made with apartments in the capital, with a y-o-y growth of  37.3%, with a monthly growth of 17.9%.

At the same time, the lion's share (48%) of transactions for the  purchase and sale of real estate falls on land plots. Land, amid the  coronavirus, is still the most attractive asset. According to  official data, 2,295 land transactions were carried out in Armenia in  July. In y-o-y terms, this indicator increased by 20.6%, with a  monthly growth of 11.2%. At the same time, Yerevan accounts for a  scanty part of these transactions - 177 (with a y-o-y growth of  24.8%, with a monthly decline of 0.6%), while the Kotayk region close  to Yerevan is in the lead - 809 transactions (with a y-o-y growth of  94.5%) with a monthly growth of 30.7%.

It should be noted that the State Committee of the RA Real Estate  Cadastre changed the format of the report, starting with the data for  the first quarter of 2018, in which information on the prices of  private houses, for some unknown reason, is not published.