Apartment prices in Yerevan continue to increase
In recent months of 2018, prices for housing in the Armenian real estate market continue to rise both in Yerevan and in the regions of Armenia. Experts predict that the increase will continue until New Year. The current situation is explained by the growing demand in the real estate, among diasporan Armenians in recent months. According to the statistics provided by real estate agencies, mostly Russian citizens are interested in obtaining housing in Armenia, particularly in Yerevan.
Official statistics confirm above mentioned information too. Thus, State Committee of Real Estate Cadastre of the Republic of Armenia has noticed an increase in housing prices in October 2018 as compared to September in the same year in all administrative districts of Yerevan, except for Erebuni, where the price for 1 square meter of apartments has not changed: the price was about 260 000 AMD both in September and October. But here in Kenton administrative district, according to the State Committee, 1 square meter of an apartment was sold for about 560 000 AMD, while in September it was about 552 000 AMD. In other words, within a month the prices have increased by about 8000 drams. Housing prices in Arabkir administrative district increased by 2300 drams, in Kanaker-Zeytun – by 2800 drams, and the same increase was seen in Shengavit. In Ajapnyak, the price of 1 square meter of an apartment increased by 4050 drams in October compared to September. For example, 1 square meter of an apartment was sold for 295 thousand drams in Davtashen administrative district, for 261 thousand drams in Avan, 244 thousand drams in Malatia-Sebastia and 246 thousand drams in Nor-Nork in October.
Let’s note that the prices for apartments have also increased in Abovyan city of Kotayk region for about 3300 drams per square meter. In resort town of Tsakhkadzor, 1 square meter of housing was 285 000 drams in October. By the way, the prices of apartments in Tsaghkadzor are more expensive than in some administrative districts of Yerevan.
