Real estate prices in Armenia until the end of 2011 will not change

In Armenia, real estate prices before the end of this year would not be changed. This opinion was expressed in a conversation with a reporter, "ArmInfo" executive director of the Association of Mortgage Market Participants Edward Oremyan.
According to him, today the demand for real estate market is rather high, but "how harmonious is the further development of the market depends on improved demand from paying customers." He added that the level of solvency of the population in Armenia has not increased, which directly affects the credit market.
According to the Real Estate Cadastre, the number of real estate transactions recorded in the first quarter of 2011 increased on annual basis by almost 28% to $ 36 499.
Rising prices for the quarter ranged from 1.5-3% depending on location. Thus, according to the inventory, the average price of the metropolitan housing in an apartment house set at the level 271 thousand drams per sq / m and in private housing - 281 thousand drams per sq.m.In regions of the highest housing prices have been established in cities such as Abovian and Vagharshapat (from 160 thousand drams per sq / m), Ashtarak, Goris and Ijevan (over 140 thousand drams per sq ft). In this Kotayk region was the most active and the number of transactions (14% of the total number of transactions). 
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Real Estate Market in Yerevan activated

The State Committee of Cadastre of the Republic of Armenia issued a statement, which, compared to the previous month, the real estate market has intensified in Yerevan.
In June 2011, in Yerevan, there were 4,260 thousand real estate transactions. Compared to the previous month, an increase of 4.8% compared to the same month last year to 6.8%. In contrast to this rise, the average real estate prices in the capital for the year went down by 9% (June 2010 - $ 2011 US755/iyun - $ US685).Ie for the year property prices have fallen dramatically and the number of transactions began to increase. With stable economic growth, this fact may lead to a partial increase in property prices.And today, as prices steadily decline, the industry almost lost interest as a form of capital investment, which led the market in non-speculative state of equilibrium.
It is noteworthy that on annual basis the largest decline in prices observed in the Arabkir district-by 13,5% ($ US1053 / $ US912), while prices in the cheapest district of Yerevan, Nubarashen, even for the year rose by 0.3 percent ($ US394 / $ US397). 
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In Armenia, the global crisis impact on real estate transfers and

As a result of the global economic crisis reduced the volume of transfers coming into Armenia from abroad, in the first place - from Russia. It struck at about 600-700 thousand Armenian citizens. Also, the crisis was reflected in real estate, where there is a decline in prices.
Told reporters on the head of the research center "Political Economy" Andranik Tevanyan. However, in his opinion, the fact that Armenia's economy is not integrated into the global economy, enabling it to remain in the win."We are hardly able to take advantage of this situation, since there is a problem in the country: the structure of the economy in some sectors or monopolistic or anticompetitive acts system, as government and business are closely fused," - he said.
However, predicting future developments in the Armenian economy, Sandoyan said that "naturally sharp turn down transfers that come into the country, and reduced investment in housing, there will be some decline in foreign investment."
Commenting on the situation in the economic sphere, the Minister of Finance Tigran Davtyan, in turn, informed that Armenia has developed a program of sustainable development for 2008-2015, according to which GDP per capita by 2021 compared with 2007 will increase by 4 times. The level of poverty will be reduced by 2021 to 7 percent.About the impact of the global financial crisis on Armenia Minister of Economy Nerses Yeritsyan Republic noted that at present it is impossible to assess the magnitude of the negative impact on Armenia's economy of the international financial crisis. According to him, the main problem may be related to investments and transfers.
Note that, according to the Central Bank of Armenia, this year in Armenia there was a decrease in remittances from Russia and the United States. In general, in the third quarter of the annual inflow of private transfers to Armenia was more than 40 percent.
In October, "Caucasian Knot" reported also that the CBA has developed three options for preventive measures to counter the global financial crisis. Developed options were presented to President Serzh Sargsyan.
Editor's note: see also the article "The World Bank will allocate $ 20 million for water supply in Armenia", "held in Yerevan meeting of the Armenian-Russian Economic Commission", "RZD will invest in the railway Armenia 570 million dollars,""In Armenia have opened a new highway to Iran", "Armenia and Iran agreed to build a pipeline of Tabriz-Meghri", "Khurshudyan: the balance of mutual interests of Armenia and Russia needs to be reassessed." 

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1000 Houses To Built For 3 Years

According to National Security Council's press center, during his visit to Netherlands, Chairman of the Trustee Council of the National Social Housing Association, Secretary of the RA National Security Council Arthur Baghdasaryan met with dutch social housing funds and organizations representatives.

During this visit Arthur Baghdasaryan and Chairman of Dutch International Guarantees For Housing Eric Berzhen signed an agreement which will provide new opportunities for social housing development in Armenia. According to this contract, 3 million euro will be provided to Armenia to solve low and middle income families housing problems, at the first phase of cooperation. Construction of first social houses will begin this autumn. For the first phase of social affordable housing program were selected towns Dilijan, Ashtarak, Aparan, Razdan and Vedi, where it is planned to built 1000 houses during 3 years.

To implement the project Arthur Baghdasaryan also met with the head of Green West company, which will be the guarantor of the project, and with the head of construction group Norhust discussed issues about modern construction technologies to make social housing more affordable.

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