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Average Monthly Rent of Tenements in Yerevan up 2% Jan-Nov 2004

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  • Average Monthly Rent of Tenements in Yerevan up 2% Jan-Nov 2004

    IN JANUARY-NOVEMBER, 2004, AVERAGE NONTHLY PRICE INCREASE OF
    TENEMENT-HOUSES IN YEREVAN MADE 2%

    YEREVAN, January 5 (Noyan Tapan). In January-November, 2004, 9,165
    transactions with respect to real estate were implemented in Armenia,
    which exceeds by 30.4% the index for the same period in 2003.

    According to the information provided to NT by Information Service of
    the Real Estate Land-Survey State Committee, sales and purchases made
    89.3%, donations - 10.4%, and exchanges - 0.3% of the 3,729 alienation
    transactions with respect to real estate. In January-November, 2004,
    the number of real estate alienation transactions grew by 18.9% as
    compared to the same period of 2003. 42.7% of real estate alienation
    transactions was implemented in Yerevan, 43.7% of which - with respect
    to tenement-houses' apartments. In November, 2004, 62.9% of the 1.332
    real estate sale and purchase transactions registered in Yerevan were
    those implemented with respect to tenement-houses, which decreased by
    4.1% as compared with the same period of 2003 and by 5.4% as compared
    with October, 2004. In January-November, 2004, the minimum and maximum
    prices of 1 square meter of tenement-houses' apartments in Yerevan
    communities made: in the center (except for the Northern Avenue) -
    $350-970, in Arabkir - $250-560, in Kanaker-Zeytun - $130-330, in
    New-Nork - $115-250, in Avan - $120-230, in Erebuni - $120-300, in
    Shengavit - $120-270, in Davidashen - $130-350, in Ajapniak - $120-300
    and in Nubarashen - $70-120. In January-November, 2004, the monthly
    increase in an average market price of 1 square meter of
    tenement-houses' apartments in Yerevan made 2%.
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