Official: Property Prices Grow by 23% in Central Yerevan
The prices for housing in downtown Yerevan, when compared to September-October last year, rose by 23%. According to the head of the Real Estate Cadastre Committee, Sarhat Petrosyan, the reasons behind the rise may be different, but the main ones are linked to positive expectations in the market.
Head of the State Real Estate Cadastre Committee
I am sure that this growth trend will continue. It may slow down a bit before the parliamentary elections (scheduled for December 9), but after them, in January, we can expect even greater growth.
The average market price of one square meter of housing in apartment buildings in Yerevan increased by 0.8% in September over the past month. Compared to the same period last year, the average market value of one square meter of housing increased by 10.6%.
The average market prices for one square meter of apartment buildings in Yerevan grew 0,9% in October, compared to September, and 10,9% against 2017’s October. The prices also grew by 0,1% in provinces.