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REAL ESTATE PRICES UNLIKELY TO GO UP IN ARMENIA IN 2015 Posted on: 20-02-2015

Real estate prices are unlikely to go up in Armenia in 2015, Martin Sargsyan, head of Armenia's State Real Estate Cadastre told journalists on Friday.  «Market itself regulates prices, but in my personal opinion, immovable property prices will not rise in 2015 since trading at real estate market not so cheerful now,» he said.  Commenting on suppositions that real estate prices might rise because of the recent sharp devaluation of the national currency, Sargsyan said the devaluation lasted for a very short period of time, and therefore it failed to impact the housing market. The Armenian dram fell 14.1% in December 2014, compared with the same period a year before. The devaluation began on November 24, when the dollar surged 16.6 percentage points against the Armenian national currency and traded at 435 drams. The dollar continued its upward movement till December 18, when the dram started strengthening. But volatility at forex market still remains. Today the dollar is traded at 476.39 drams.  According to the State Real Estate Cadastre's report, prices for residential houses in Armenia rose 0.8% in 2014 to AMD 273,600 per one square meter. Real estate prices in Yereva's central district Kentron went 2.3 percentage points up in 2014, compared with the previous year, to AMD 427,000 per one square meter, on average, and in Nubarashen 3.1% to AMD 150,900.  Prices for immovable property rose in provinces as well - the average price for one square meter here reached AMD 86,500 in 2014 showing a 0.7% year on-year growth.  Some 39,221 sale-purchase deals were recorded at the country's real estate market in 2014 – 8.3% more than in 2013. Some 15,911 transactions were registered in Yerevan alone – 8.4% more than in 2013.Crown Immigration – Jalandhar Whatsup/Vibre/Mobile  +919780563753, Karnal(Haryana)  +919996386534,  +919996886534skype crowngroups, email cicsgroups@gmail.com, Patiala -  0175 2228207, Moga -  9876084401 and also Subscribe us on Crown Immigration YouTube Channel for more information https://www.youtube.com/channel/UCnGy4uENJmddEbuHELUNI8g

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