Tweet
REAL ESTATE RATES REDUCED BY 19% IN YEREVAN
News.am
19:13 / 09/24/2009
The average prices for real estate decreased in Riga -- by 53%,
Tbilisi -- 42%, Kiev -- 39% in September 2008-2009. The least fall
in prices was recorded in Bishkek -- 16%, Yerevan -19% and Chisinau
-- 21%, the statistics on price-level changes in 15 ex-Soviet Union
capitals by GED Analytics center says.
Various price changes in these cities are conditioned by both local
political and economic factors beyond the global crisis. For instance,
price slash in Georgia last year is connected with the August 2008 war,
implicit economic blockade by north neighbor and attendant economic
and investment losses.
In Moscow and Baku price slash is conditioned by one-sided economy
of Russia and Azerbaijan, as demand for raw materials produced in
these countries has dramatically declined in the world market. These
countries had to be followed by Turkmenistan, however the real estate
market in this limited Central Asian country develops in peculiar
oriental rules.
The least price cut is registered in relatively poor and decent
Armenia, Kyrgyzstan and Moldova. Here the price "bubble" was not that
much soared at the expense of petrodollars surplus and needlessly
optimistic investors. In addition, their economy did not depress that
much. One of the main reasons for price reduction was lowered wages
of the citizens working in Russia.
As of September 2009, the lowest prices for real estate are registered
in Tashkent and Dushanbe (U.S. $ 500/m2). In Tbilisi 1 m2 totals
U.S. $ 550, having the Moscow registering the max of U.S. $4500/ m2,
followed by Kiev -- U.S. $ 1750/ m2 and Almaty with U.S. $ 1550/ m2.
News.am
19:13 / 09/24/2009
The average prices for real estate decreased in Riga -- by 53%,
Tbilisi -- 42%, Kiev -- 39% in September 2008-2009. The least fall
in prices was recorded in Bishkek -- 16%, Yerevan -19% and Chisinau
-- 21%, the statistics on price-level changes in 15 ex-Soviet Union
capitals by GED Analytics center says.
Various price changes in these cities are conditioned by both local
political and economic factors beyond the global crisis. For instance,
price slash in Georgia last year is connected with the August 2008 war,
implicit economic blockade by north neighbor and attendant economic
and investment losses.
In Moscow and Baku price slash is conditioned by one-sided economy
of Russia and Azerbaijan, as demand for raw materials produced in
these countries has dramatically declined in the world market. These
countries had to be followed by Turkmenistan, however the real estate
market in this limited Central Asian country develops in peculiar
oriental rules.
The least price cut is registered in relatively poor and decent
Armenia, Kyrgyzstan and Moldova. Here the price "bubble" was not that
much soared at the expense of petrodollars surplus and needlessly
optimistic investors. In addition, their economy did not depress that
much. One of the main reasons for price reduction was lowered wages
of the citizens working in Russia.
As of September 2009, the lowest prices for real estate are registered
in Tashkent and Dushanbe (U.S. $ 500/m2). In Tbilisi 1 m2 totals
U.S. $ 550, having the Moscow registering the max of U.S. $4500/ m2,
followed by Kiev -- U.S. $ 1750/ m2 and Almaty with U.S. $ 1550/ m2.