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EXPERT: IMMOVABLE PROPERTY PRICES BELIEVED TO PLUMMET IN ARMENIA
YEREVAN, September 25. /ARKA/. Tatul Manaseryan, an economist and the
head of Alternative think tank, predict a sharp dive in real estate
prices in Armenia.
Speaking Wednesday at a news conference, he said that the market is
oversupplied now as construction continues in the country. "But prices
are paradoxically high," he said. "That is why a very undesirable
situation may emerge here, and prices will plunge."
Manaseryan said market supply should be in tune with demand, but
nothing like that is seen in Armenia.
"Shadow dealings are very commonplace in construction, and this give
grounds for concern," the expert said.
The average price for one square meter in apartment blocks in Yerevan
reached 272,100 drams in this year's July after rising 0.04% since
the same month a year before.
One square meter in detached houses in Yerevan cost 286,600 drams, on
average, in July 2013 against 275,600 in July 2012. ($1 - AMD 405.75).
---0--- - See more at:
http://arka.am/en/news/economy/expert_immovable_property_prices_believed_to_plumm et_in_armenia/#sthash.J1DrXhol.dpuf
YEREVAN, September 25. /ARKA/. Tatul Manaseryan, an economist and the
head of Alternative think tank, predict a sharp dive in real estate
prices in Armenia.
Speaking Wednesday at a news conference, he said that the market is
oversupplied now as construction continues in the country. "But prices
are paradoxically high," he said. "That is why a very undesirable
situation may emerge here, and prices will plunge."
Manaseryan said market supply should be in tune with demand, but
nothing like that is seen in Armenia.
"Shadow dealings are very commonplace in construction, and this give
grounds for concern," the expert said.
The average price for one square meter in apartment blocks in Yerevan
reached 272,100 drams in this year's July after rising 0.04% since
the same month a year before.
One square meter in detached houses in Yerevan cost 286,600 drams, on
average, in July 2013 against 275,600 in July 2012. ($1 - AMD 405.75).
---0--- - See more at:
http://arka.am/en/news/economy/expert_immovable_property_prices_believed_to_plumm et_in_armenia/#sthash.J1DrXhol.dpuf