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

The Armenian Cadastre Committee has published the July analysis of the real-estate market and despite the coronavirus epidemic and pessimistic expectations, there are no significant changes in the market, drops in prices and deals.

Thus, according to the Cadastre analysis in 2020 Average market prices for apartments in multi-apartment residential buildings in Yerevan in July 2020, 2020 Compared to June, decreased by only 1․7%. It’s also important to mention that in 2019 ․ Compared to July, prices even increased by 7․1%. By the way in the regions, the picture is the same: 1% decrease compared to June, and in 2019 ․ 2.5% growth compared to July.

Thus, as predicted by independent and professional experts and market professionals, the non-professional pessimistic opinions that there will be a 10-15% decline in the real-estate market (there were even worse forecasts.) did not materialize. Life has shown that they were exaggerated. Recently, Eduard Apriyan, the business development director of “RED Group” company, mentioned in “Radiolur Lounge” that along with the retreat of the epidemic, prices and positive activity are noticeable. There has not been a significant decrease in apartment prices in Armenia this year, there is none and apparently, there will not be, if there are no force majeure situations.

You can see details in the official site (Page 37, Table 3.6-2)․