Expert analyses from the Central Bank of Armenia suggest that real estate price indices do not accurately reflect the market situation. This statement was made by the head of the Central Bank of Armenia, Martin Galstyan, when presenting the financial stability report for 2023.
According to Martin Galstyan, despite the continuous activity, the real estate market remains highly saturated.
"Experts note that the current market is characterized by a high level of uncertainty, with a significantly increased risk of reaching a turning point, attributed to considerable price gaps in the real estate market," Galstyan stated.
According to the Real Estate Cadastre Committee, in April 2024, there were 20,988 real estate transactions in Armenia, reflecting a 26% increase compared to the same period last year and a 3.8% increase compared to March 2024.
Average market prices for real estate in Yerevan continued their upward trend. Prices for apartments in multi-story buildings increased by 11.9% compared to April 2023, while remaining stable compared to March of the current year.
