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ArmenPress
March 2 2005
CONSTRUCTION BOOM IN DOWNTOWN YEREVAN TO LAST FOR 5 YEARS MORE
YEREVAN, MARCH 2, ARMENPRESS: Though prices of luxurious
apartments in downtown Yerevan have shot up from $150 for one square
meter to around $600 in the recent 3-4 years local realtors argue
they are still 2 times lower than they should be. According to Armen
Mkoyan from Elite Group real estate agency, the demand for such
apartments is not satisfied yet, prompting the emergence of apartment
constructing companies supported by Russian, French and Iranian
capital.
Mkoyan said the construction boom in central Yerevan is likely to
last for another five years and will then move to other districts. He
said almost 53 percent of new apartments built in the city center are
bought by Diaspora Armenians, especially by Russian Armenians.
March 2 2005
CONSTRUCTION BOOM IN DOWNTOWN YEREVAN TO LAST FOR 5 YEARS MORE
YEREVAN, MARCH 2, ARMENPRESS: Though prices of luxurious
apartments in downtown Yerevan have shot up from $150 for one square
meter to around $600 in the recent 3-4 years local realtors argue
they are still 2 times lower than they should be. According to Armen
Mkoyan from Elite Group real estate agency, the demand for such
apartments is not satisfied yet, prompting the emergence of apartment
constructing companies supported by Russian, French and Iranian
capital.
Mkoyan said the construction boom in central Yerevan is likely to
last for another five years and will then move to other districts. He
said almost 53 percent of new apartments built in the city center are
bought by Diaspora Armenians, especially by Russian Armenians.