Real Estate Prices in Yerevan Rise Again

According to the newspaper "Zhoghovurd", "As the real estate market activates and demand increases, property prices are also rising. In Yerevan, apartment prices have risen significantly over the past month. Experts predict that real estate prices will not decrease but will continue to rise. On the other hand, developers warn that if construction material prices continue to rise, it may have a significant impact on apartment prices.

"Zhoghovurd" received information from the Statistical Committee that in June this year, compared to May, an increase in apartment prices was recorded in all administrative districts of Yerevan. It is noteworthy that in the Central administrative district, the price per square meter of an apartment in June exceeded $1700 or 744,100 drams. By the way, in June of last year, the price per square meter in the Central district was 622,000 drams, which means that in a year, the price per square meter has increased by 122,100 drams.

This significant increase in apartment prices over the course of a year is particularly notable in a country like Armenia. In the Arabkir administrative district, prices for apartments increased by 4,100 drams, in Avan by 3,950 drams, in Ajapnyak by 2,600 drams, and in Malatia by 3,900 drams, while in Kanaker-Zeytun, the price per square meter of an apartment increased by 1,000 drams. For instance, in Arabkir, the price per square meter of an apartment in June was 526,600 drams, compared to 522,500 drams in May. The price per square meter of an apartment in Nubarashen in June this year amounted to 204,300 drams. According to real estate market specialists, most apartment buyers primarily take advantage of mortgage loans."

For more details, refer to today’s edition of the newspaper.