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NKR: The Most Expensive Flats Are In Vazgen Sargsyan Street

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  • NKR: The Most Expensive Flats Are In Vazgen Sargsyan Street

    THE MOST EXPENSIVE FLATS ARE IN VAZGEN SARGSYAN STREET

    Karabakh-open.info
    Tuesday, 22 May 2012 14:32

    In the last few years the prices for flats in Stepanakert have been
    equal to those in Yerevan, once it was even possible to sell a flat
    in Stepanakert and buy an identical one in Yerevan. During the last
    year, however, prices for flats have decreased a bit, real estate
    agents state this.

    By the data of the State Committee of the Real Estate Cadastre adjunct
    to the NKR Government, in Stepanakert the average price per square
    meter of a flat area in a multi-flat house amounts to AMD 230.000.

    In her interview to Karabakh-open.info director of the 'Ð~]аÑ~H
    Ð"ом' real estate agency Anahit Tovmasyan informed that of all the
    newly built elite multi-flat houses the most expensive flats sold are
    in Vazgen Sargsyan street where the price amounts to USD 1200 per
    square meter of an unrepaired apartment space whereas in Sasountsi
    Davit street USD 1200 stands per square meter of a repaired apartment
    space. The price per square meter of the apartments in W. Saroyan
    street is USD 1000, in Artsakh district and in Toumanyan street the
    price is AMD 270.000.

    These are the prices presented by the realtors to the agency.

    As the agency director assures the purchase and sales process of
    apartments is not actively carried on in spite of the fact that the
    prices have decreased a bit.

    The demands of the people applying for the purchase of a flat are
    quite different, Anahit Tovmasyan explains and adds that there is a
    certain class of people who prefer the repaired flats in good order
    in Artsakh district. "However, only 35% of potential customers have
    this opportunity, the other 75% of buyers, because of tight budget,
    prefer the secondary market,' A. Tovmasyan says.

    As for the choice of districts people always try to live near
    the city centre. As opposed to the newly built elite houses the
    Khrushov-designed apartments are very difficult to sell.

    'Of course, flats are classified according to streets and districts
    yet the price is mainly determined by the design of the flat and the
    public transport service of the area,' the agency director explains.

    Private houses are more difficult to sell; only the
    one-and-a-half-storey houses with a garage and a plot the prices of
    which vary within the limits of USD 40 - 45 thousand are frequently
    purchased.

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