Armenian real estate market has registered a 40% decrease in 2009April 30, 2009 - 18:09 AMT PanARMENIAN.Net - According to RA Real Estate State Cadastre Committee report, in the first quarter of 2009, 28 542 real estate deals were registered in Armenia, decreasing by 31.4% compared with last quarter of 2008 and by 18.6% compared with the first quarter of 2008. Real estate deals were allocated as follows in RA regions: Yerevan (35% of total deals), Lori (10.3%), Kotayk (10.1%), Ararat (9,9%), Shirak (7.2%), Aragatsotn (5,1%), Syunik (4,9%), Gegharkunik (4.7%), Tavush (4,2%) and Vayots Dzor (1,7%). Among 7 921 deals on property disposal, sale and purchase deals comprised 74.7%, deed of gift deals- 24%, real estate exchange deals-1.3%, with 32.9% of property disposal deals registered in Yerevan. In the first quarter of 2009, apartments' sale and purchase deals decreased by 40% compared with the last quarter of 2008. Despite major decrease in deals' number, a slump in apartments price was insignificant. In 2009 the average real estate price comprised AMD 280 600 per square meter, which is 2% lower than in 2008, totaling AMD 286 200. A slump in mansions purchase and sale was also registered in the first quarter of 2009: 32% throughout Armenia, 1360 deals against 2002 deals in the same period of 2008, 38% decrease in Yerevan 288 against last year's 464. Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | Concept to complete Yerevan Cascade discussed at city hall A conceptual proposal to complete the Cascade complex in downtown Yerevan has been presented by Jean-Michel Wilmotte. Pashinyan visits flood-hit region Armenian Prime Minister Nikol Pashinyan on Saturday, June 8 visited the disaster area in the Lori province. €3.5 mln EU grant to support justice reforms in Armenia The European Union has paid €3.5 mln grant to Armenia within a €11mln program on Support to Justice Reforms. Yerevan reacts to Baku’s proposal to see Minsk Group abolition Alen Simonyan has declared that Armenia is taking steps aimed at concluding a peace treaty with Azerbaijan. |