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Kristine Aghalaryan

Real Estate Prices in Armenia See Slight Rise

Today, an official with the RoA government’s real estate appraisal division, Arman Petrosyan, stated that apartment prices had risen by 2.8% in the first quarter of 2010 in Yerevan and by 1.5% in the country’s outlying regions. Prices for private houses have gone up 2.9% across the board, he said. Mr. Petrosyan added that during the first quarter of 2010, real estate sales had dropped by 23.6%, while during the same period in 2009, they had risen by 22.4%. He said that the fall of the AMD, compared with the U.S. dollar, wasn’t of significant consequence in the real estate market, despite dropping some 20%.