YEREVAN. – The developments currently unrolling with respect to Syria and Iran have not yet substantially impacted Armenia’s real estate market, economist Tatul Manaseryan stated during a press conference on Monday.     

He informed that although Armenians from the aforesaid countries have already purchased real estate in Armenia, the offer is so much that it did not substantially affect the current market condition in the country.     

Nonetheless, the risks remain and if military operations were to start—or expand—in these countries, the Armenians from there could immigrate to Armenia en masse and the country’s real estate prices could rise.     

As per Manaseryan, Armenia’s real estate market is satiated because of the constructions that were underway for years on end.  

“The offer exceeds the demand, but the prices do not drop equivalently,” said Tatul Manaseryan.