The real estate market in Armenia is in poor condition. Such opinion at press conference expressed the American businessman of Armenian origin Vahagn Hovnanian.Incidentally, in a residential area Vahagni, named in honor of the entrepreneur, real estate prices have not changed - they are consistently estimated at 82.5 million drams (about $ 220 million). Houses are built exclusively in the presence of orders. Currently, in the quarter, there are 200 houses, 500 more will be built soon.
V. Hovnanian said that buying land from the state on the land value, but is forced to make a significant contribution, as before in this place was a dump.
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