In Yerevan, during the first quarter of 2024, the number of apartment purchase and sale transactions significantly increased compared to the same period last year.
According to market analysis data published by the Armenian Cadastre Committee, there were 4,294 transactions during this period, which is 42.3% more than during the same period in 2023.
The increase in transactions was noted in four administrative districts of the city: Avan, Arabkir, Malatia-Sebastia, and Shengavit. In the other seven districts, the number of transactions decreased.
The total volume of real estate transactions in Yerevan increased by 26.3%, involving apartments, industrial and public buildings, as well as garages.
Stable growth in apartment prices is observed in Yerevan. According to cadastre data, the average market price per square meter of housing increased:
- In the city center by 13.3%, reaching 901,800 drams (over $2200).
- In the Arabkir district by 14.6%, reaching 637,300 drams ($1600).
- In Kanaker-Zeytun by 8.7%, reaching 426,700 drams ($1100).
- In Nor-Nork by 16.5%, reaching 391,750 drams ($1000).
- In Erebuni by 15.1%, reaching 401,000 drams ($1030).
- In Shengavit by 12.2%, reaching 392,800 drams ($1000).
- In Davtashen by 15.6%, reaching 469,300 drams ($1150).
- In Achapnyak by 11.1%, reaching 404,900 drams ($1030).
- In Malatia-Sebastia by 9.4%, reaching 385,200 drams (approximately $1000).
- In Avan by 12.6%, reaching 392,400 drams ($1000).
- In Nubarashen by 10.5%, reaching 227,600 drams ($600).
Overall, the volume of real estate transactions in Armenia increased by 20%. Besides the capital, an increase in real estate transactions was observed in other regions of Armenia, such as Lori, Gegharkunik, Tavush, and Vayots Dzor.
There is also an increase in the volume of land purchase and sale transactions in the country's real estate market – by 12.4%. However, land transactions in Yerevan decreased by 7.3%, while significant growth in such transactions was observed in other regions like Gegharkunik, Lori, and Tavush.
