The prices for real estate in the center of Yerevan have increased by 30-35% in comparison with last year. Armenian association of real estate chairman Artyom Pribilski has stated it in his interview with «Arminfo» agency. The lowest prices for apartments are in South-Western, Shengavit districts. According to Pribilski, the decrease of the demand and accordingly of the prices for real estate, observed in 1997, achieved its highest point in 2000. Since the beginning of 2001 the increase of the prices due to the celebration of 1700 anniversary of Christianity adoption in Armenia has started. But by the end of the year there was no decrease in the demand and the tendency of the price growth remains within 3-3.5% a month. In Pribilski’s opinion, the remaining growth of price for real estate is due to instability of the situation in Armenian bank system. Bankruptcy of several commercial banks during recent months promotes withdrawal of capital from banks into the real estate sphere. But during the current year this situation is to become normal and if election campaign is held without any surprises, the growth of prices will stop at 1-1.5% a month.
ԻմPANը
