YEREVAN. – According to data released by the State Committee of Real Estate Cadastre of the Republic of Armenia (RA), the sales and purchases of residential building apartments in capital city Yerevan have dropped by 29.4 percent in April of this year, as compared to April last year, reported Haykakan Zhamanak daily.

“And the number of real estate transactions in the whole republic dropped by 15.8 percent in April.

“This situation in the real estate market [of Armenia] reflects the RA socioeconomic crisis situation.

“Such a plunge [in the country’s real estate market] was recorded during the crisis of 2008-2009.

“Other issued indicators also show the sad state of the economy [in Armenia]. In particular, there is a sharp decline in mortgage transactions [in the country]. The number of such transactions has decreased by 41.2 percent, as compared to April last year,” wrote Haykakan Zhamanak.