Haykakan Zhamanak: "Real Estate in Armenia continues to depreciate"
Armenian PressReal Estate in Armenia continues to depreciate. This is evidenced by the State Real Estate Cadastre of Armenia recently publishedofficial data. Real estate is cheaper in Yerevan and in all the regions of Armenia.
For example, the average price of per meters in apartment buildings in November 2012, according to the State Real Estate Cadastre, was 649 dollars, while in 2011 it was $ 675. Thus, in just one year in Yerevan apartments prices fell by an average of 4 percent.
Besides the fact that prices have fallen, there is also registered a sharp decline in the number of sales of apartments. According to official statistics, in November 2012, the number of sold apartments was lower at 17.6 percent than in the same period in 2011. This directly reflects the heavy socio-economic situation in Armenia.