Meeting at the State Committee of Real Estate Cadastre: from legislative gaps, black realtors to the customers who leave

A few days ago, the head of the State Committee of Real Estate Cadastre of the Republic of Armenia, Sarhat Petrosyan and the representatives of several real estate companies, discussed the urgent issues of the sector, particularly, the activities of realtors that work illegally and do not pay taxes. Real estate agents noted, that in addition to the problems with legislative gaps and “leaving buyers”, it’s very important to mention the activities of “black realtors” in Armenia. The latter work illegally, do not pay taxes, do not spend money on advertising, make transactions at very low prices, and do not have high qualifications.

Sarhat Petrosyan noted that the Committee does not want to expel the competitors from the market, but to develop the market. He assured that the sector should be cleaned out of unfair competitors, but the goal should be finding a solution (for example, how to make the realtors’ business grow, and help the citizens not to fall into the hands of a random person).

S. Petrosyan believes that the regulation and development of the real estate sector can be implemented in two ways: increasing the State’s involvement in sectoral processes or self-regulation, in cooperation with the State. Realtors, in their turn, gave a few suggestions: from running a “Legal agent” social network, reducing the reference payments of the Cadastre to eliminating specific “loops” or mistakes.

The head of the committee assured that they will think about the solutions of the issues, will discuss and find appropriate solutions. Highlighting the importance of the cooperation between market regulator (the State Committee of Real Estate Cadastre) and market players (realtors), it was decided that such meetings would be periodic.

There hasn’t been a significant drop in apartment prices and most likely will not be

The apartment price fluctuations in the regions are very different depending on the city

Decentralization is taking place in the real-estate market